When you have a goal to buy a house, a great first step is to get pre-qualified or pre-approved to help you understand how much you can borrow, what issues you might encounter, and whether you are financially ready. We can get you pre-qualified in a few minutes. What's your preference?
A pre-qualification consultation is great if you just want to find out if you are on track or what it would take to get a mortgage.
A pre-approval takes a bit more time as it is a more rigorous process. We ask you for permission to pull your credit and also for documents to support and verifiy your employment, income, down payment, assets and liabilities, etc. It is highly recommended that you get pre-approved before you start looking for a house. BTW: Banks are notorious for saying you are pre-approved without reviewing your documents upfront, leaving you heart broken when they say oops ...
A proper evaluation will help you:
- Find out the maximum house you can buy, so you don't waste time looking for properties you can not afford.
- Get you a maximum interest rate guarantee.
- Puts you in a stronger position when you are negotiating with the seller, because the seller knows that your loan has been properly pre-approved.
- Helps you remove conditions quickly, since your documents are already collected and on file.
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