Horse in Front of Your Buggy - Question: I know I need to get pre-qualified, but really, don't I just need to do that just before we go out, and when in putting an offer on something?
Answer: Some people have a good sense of where they are at. For those that don't that answer is no- most often you need it in the beginning of your search process. OK, some of you reading this really do know or have already talked to a mortgage broker or bank. There is just something that changes things for folks when they get pre-qualified. One, it is like being given a blank check, now you know what you can afford and choose to bite off. This in turn empowers the whole search process from tightening up various employment and other logistical arrangements, but it also helps one to know for certain the price range they can shop in. This can save a ton of time, bottom line, for everyone involved. You come to know where you are at, what is all involved and what factors are limiting you in being able to MOVE forward.
"The sooner you know just how much house you can buy, the less time it will take to pinpoint homes that truly meet your needs and budget!!!"
Gosh, it is EASY to "jump the gun", but please do not wait any longer when it is SO PAINLESS these days. It is just like that new 'painless dentistry', have you heard? Painless! The initial shots now are supposedly painless. Even if that isn't, getting pre-qualified is. Besides, it becomes so clear and painless after that for you. Plus, don't waste all that tremendous amount of perceptual error time looking on things that may never apply. Empower yourself!!! One SHORT phone call to say... "Steve, what do I qualify for and what can I conservatively afford?" Steve is with SGI Mortgage at: (435) 467-1090 and tell him I referred you. You don't have to use Steve (although he is an 18 year veteran). Even if after talking to him, you don't use him, he won't care- he just loves helping people. Of course he hopes to get that chance. Thanks for listening!
“Brian, Steve was a true blessing to talk to! He talks at my level, as well as you do. Nice to be able to intelligently speak to (2) professionals and be able to meet our needs. That has never happened in my 10 plus year in dealing with real estate in connection to financing. Thanks,
St George Loans can be tricky business. We take the hard work out of it for you with sheer experience and have proven ourselves time and again by offering the most favorable financing terms and by having a level of customer service which we require for our clients.
Your lender will:
Check your credit
Determine your debt to income ratio
Discuss which mortgage product best fits your situation
Provide a Good Faith Estimate
Determine what purchase price you qualify for
Show you the monthly costs and closing costs
Write a "Pre-Qualification" or Pre-Approval letter