Why it's Important to Pre-Qualify
Shopping for a mortgage loan? We'd be thrilled to discuss our many mortgage solutions! Give us a call today at (440) 234-9660. Ready to begin? Apply Here.
It is helpful to consult your mortgage loan professional as soon as possible — even before you have started to consider neighborhoods. What for? It may be difficult to understand the way we could help even before you start to negotiate.
We Can Help You Pre-Qualify
We will help you determine the loan amount you can qualify for and the monthly mortgage payment amount you are able to afford by helping you pre-qualify. During this process, we determine your ability to borrow - reviewing your employment, money available for down payment, debts, income, and other circumstances. We require a minimum amount of paperwork, and avoid a lengthy process.
When you qualify, we give you what's called a Pre-Qualification Letter (your real estate agent might call it a "pre-qual"), that says that we are working with you to find the ideal loan to meet your needs and that we are confident you will qualify for a mortgage loan for a certain amount.
Power in the Pre-Qual
Several advantages open to you when you find your dream house, and have pre-qualification power. The first is that you'll know what you will be able to afford when putting together your offer.
Even more important to the present owner, your pre-qualification letter gives them certainty - as if you had come into their home with a suitcase of cash to back up the offer! They won't have to be concerned they are wasting their time if you can't be able to qualify for a high enough mortgage loan. The seller won't be concerned that he can't trust you to qualify for your loan.Your qualifying for the necessary loan amount will not cause them concern. You have the ability to back your offer up.
We can help you pre-qualify
Our mortgage professionals can help you find out how much of a loan you can qualify for and the mortgage payment amount you are able to afford by helping you pre-qualify. We can do this by considering your debts and income, your employment and housing circumstances, your funds available for a down payment, required reserves, and other considerations. It's short and to the point; and we take pride in keeping the paperwork to a minimum.
Face to Face
While you are encouraged to benefit from our mortgage calculators on this website, it's a good idea to sit down and talk with one of our mortgage professional team members. For one thing, you'll need a Pre-Qualification Letter! For another thing, we could find a different mortgage program that fits your goals better. Let us get you started: Call us at (440) 234-9660.
Have questions about pre-qualifying? Call us at (440) 234-9660. Northeast Bancorp of America, Inc. answers pre-qualifying questions every day.