Getting Qualified Before House Hunting?

Before you start to pick out houses to visit, it’s important to look into getting qualified and see your mortgage professional. Why? You can shop if you know how much you can afford.

By getting qualified you’ll know how much of a monthly mortgage payment you can afford, and how much we can loan you. We do this by considering several factors:

  • your income and debts
  • your employment and residence situations
  • your available funds for down payment and required reserves
  • and a few other things.

The process is short, to the point and we keep the paperwork to a minimum.

Getting Qualified Like Money in the Bank

Once you qualify, we give you what’s called a Pre-Qualification Letter (your real estate agent might call it a “pre-qual”). This letter says that we are working with you to find the best loan to meet your needs and that we’re confident you’ll qualify for a loan for a certain amount.

When you find a house that catches your eye, and your budget, you can then make an offer. Getting qualified in advance for a mortgage will do a couple of things. Again, it lets you know how much you can offer. Your real estate agent will help you decide on an appropriate offer, but being pre-qualified gives you the confidence to know you can follow through.

More importantly, to a home seller, being pre-qualified is like you walked into their house with a suitcase full of cash to make the deal. They won’t have to wonder if they’re wasting their time because you’ll never qualify for a mortgage to finance the amount you’re offering for the home. You have the clout of a buyer ready to make the deal right now. This helps you too if two offers come in at the same time. If you’re pre-qualified you have a better chance of having your bid be the one selected.

You can always use the calculators available on our site to get an idea of how much mortgage you can afford but it’s still important to meet with us.

So are you ready to get started? Click here to fill out our short form loan application so a member of our team can help you fulfill the dream of home ownership.

M2 Lending Solutions 2000 S Colorado Blvd, Tower One Suite 1-3400 Denver, CO 80222