|
Prequalification Letter - Sellers won't look at your offer without one.
A prequalification letter is neccesary to start the home buying process for 2 reasons. 1) Sellers won't look at your offer without a prequalifcation letter; 2) A prequalification letter will help to determine what price range you should be shopping in. Also you can use the prequalification letter to compare what other lenders will offer you. Once the lender tells you the amount you prequalify for, ask them what your monthly payment would be. If the monthly payment is too high for you, ask the lender what amount you can prequalify for at a monthly payment you know you can afford. Need help getting started? Click on "Preapproval Application" (the 2nd button on the left) and Virtual Mortgage Group will immediately process your application and let you know the various loan products available to you, as well as the price range you should be shopping in. Virtual Mortgage Group is very competitive and expiditious (able to close loan in as little as 30 days) and can beat any lender's rates and costs.
|
|
The Advantages |
| √ |
Know how much house you can afford. |
| √ |
Know how much cash you will need for the down payment. |
| √ |
Simplifies pre-approval. | | |
A number of factors determine the price range of homes you'll want to preview - one of these factors is loan pre-qualification.
As your agent, I will help you pre-qualify. Items considered when pre-qualifying for a mortgage loan include:
- Employment History
- Credit History and Scores
- Monthly Income and Expenses
With my knowledge of the mortgage market, I'll help you make an informed decision as to the type of loan you'll want. There are many different types of loans to consider - FHA, VA, Conventional and even Bad Credit Loans. We'll find the best loan for your situation.
| 