Being prequalified is important -- BEFORE YOU SHOP.
Prequalification accomplishes 4 important tasks:
1) Establishes your financial profile: “qualifiable
income,” “monthly reoccurring debt,” and “allowable
cash-to-close,” -- the way the lender interprets it.
2) Calculates your maximum sales price, based upon your
financial profile, and/or matches your profile to a specific house to
prove qualification capability.
3) Displays the proposed payment and all the likely costs
involved in the purchase transaction under various loan programs and
4) Accesses your credit report and analyzes your credit
history & score to ensure lender qualification standards are met.
This prequalification process produces the following
1) You will learn which mortgage program and scenarios
are best for you, at your level of risk, within your budget.
2) You won’t waste time looking at houses you can’t
3) And most importantly, it gives you, and your prospective
real estate agent and Seller the confidence to consummate
the offer you ultimately put forth. In other words, the prequalification
and/or preapproval demonstrates your level of intent and strengthens
your capability to the seller.
We hope you consider Professional
Mortgage Consultants (PMC) for
your mortgage needs. PMC
provides free prequalification and/or preapproval, without cost or obligation.
PMC is proud of its 100% approval rate, 100% previous
customer referral rate, and servicing
over a 1,000 clients over 28 years. See Testimonials.
Click here for your free