Prequalification, what is it?
This is a brief conversation between your mortgage consultant and anyone considering purchasing property in the future. The purpose is to determine the mortgage financing boundaries early in the home buying process. The discussion is intended to provide guidance and rate and program information with a focus on establishing a comfort level on monthly obligations, educating clients (on process, lending policies, costs, etc.), and providing finance options and limits particular to their circumstances. This is normally a private conversation with the buyer to verbally review their financial profile. This discussion will include current and historical income information, funds available at purchase, credit history, current property obligations and the availability of documented verification of the above. There is no cost for this service. Everyone benefits from this!! Prospective sellers, Relocation buyers, First time buyers…
