Why Pre-Qualification is Important
Looking for a loan? We'll be glad to talk about your mortgage needs! Call us at (949) 486-3777. Ready to get started? Apply Here.
It's helpful to bring in your mortgage loan professional early — even before you have started to consider neighborhoods. What for? How can we help you if you have not made your offer, and do not yet know the amount you want to borrow?
We can help you calculate how much of a loan you can qualify for and the monthly mortgage payment amount you can afford by getting you pre-qualified. During this process, we explore your borrowing power - looking at your earning status, available money for down payment, existing debt, income, and other circumstances. We will ask for a minimum amount of paperwork, with a short,basic process.
After you are considered eligible, we document our confidence in your capacity to qualify for a mortgage loan by presenting you with a Pre-Qualification Letter (also called a "pre-qual").
With your pre-qualification letter, several advantages fall at your feet once you find the house you want to make an offer on. The first is that you will know what you'll be able to afford when calculating your offer.
Even more important to the seller of the house, your pre-qualification gives them confidence - as if you had arrived at their home with a big box of cash to back up the offer! They need not worry that that they're wasting their time if you will not have the ability to qualify for a high enough mortgage loan. The seller of the home won't be concerned that he can't count on you to qualify for your loan.Your qualifying for your needed mortgage loan amount will not cause them concern. They have a virtual guarantee that they can trust your buying power.
We can help you pre-qualify
We can help you determine the loan amount you can qualify for and the mortgage payment amount you are able to afford by helping you pre-qualify. In this process, we determine your capacity to borrow - reviewing your job, available money for down payment, debt, income, and other circumstances. It's short and basic; and we keep the paperwork light.
You can certainly use the mortgage calculators available on this site to calculate how much mortgage you can afford - but it's also important to talk with one of our mortgage professionals. We can work toward your pre-qualification letter. Next, we can consider your mortgage loan choices and be sure you are in the best one. Let us get you started: Call us at (949) 486-3777.
Have questions about pre-qualifying? Call us at (949) 486-3777. Utah Funding answers pre-qualifying questions every day.