Why Pre-Qualification is Important
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It is valuable to consult with your mortgage loan professional as soon as possible — even before you've started narrowing down neighborhoods. What for? It might be hard to understand how we could help even before you begin to talk about prices and negotiations.
When we pre-qualify you, we help you find out the amount in mortgage payments you can afford, and the loan amount you will qualify for. In this process, we determine your borrowing potential - reviewing your earning status, available money for down payment, debt, income, and other areas. We ask for a minimum amount of paperwork, with a short,basic process.
When you are determined to be eligible, we document our confidence in your ability to qualify for a mortgage by presenting you with a Pre-Qualification Letter (also called a "pre-qual").
When you locate a house that catches your eye, and you decide to put together an offer, being pre-qualified for a mortgage loan will do several things. First, you have some definite numbers in mind, as the amount you can borrow.
Even more important to the seller of the house, your pre-qualification letter gives them confidence - as if you'd arrived at their house with a suitcase of cash to back up the offer! They will not need to wonder if that they're wasting their time if you don't have the ability to qualify for a high enough mortgage loan. The seller won't be concerned that he won't be able to count on you to qualify for your mortgage in the amount you will need.Your qualifying for the necessary 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 determine how much of a mortgage loan you can afford, and the amount of money you can borrow, by taking you through the pre-qualification process. This process outlines your finances - your debts, income, employment, cash available for down payment, among other things. We as for a minimum amount of paperwork, with a quick process.
While you are encouraged to try our mortgage calculators on this website, it's a good idea to meet with one of our mortgage professional team members. That way, we can help you get your pre-qualification letter. Next, we can consider your mortgage options to make sure you are in the best one. We are waiting to meet with you: call us at (302) 765-8089.
Have questions about pre-qualifying? Call us at (302) 765-8089. Trustin Mortgage Corporation answers pre-qualifying questions every day.