Why Pre-Qualification is Important

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It is helpful to consult with your mortgage loan professional early — even before you've begun narrowing down neighborhoods. What for? What can we do for you before you have negotiated a purchase amount, and don't yet know the amount you need to borrow?

Pre-Qualify

When we pre-qualify you, we help you determine the amount in monthly mortgage payments you can fit in your budget, and the loan amount you will qualify for. We can do this by analyzing your income and debts, your work and housing situations, the available funds for a down payment, required reserves, and some other things. It's quick and to the point; We take pride in keeping the paperwork light.

After you qualify, we give you what's called a Pre-Qualification Letter (your real estate agent might refer to it as a "pre-qual"), which documents the fact that we are helping you to find the best loan program to fit your financial needs and that we are confident you'll qualify for a mortgage loan for a specific amount.

Buying Power

Several advantages open to you once you've found your next house, and have achieved pre-qualification power. First, it helps you know how much you can offer. Of greater importance to the current home owner, your pre-qualification is like your having entered their house with a bag full of cash ready to purchase their house! They will not have to worry that that they are wasting their time if you do not be able to qualify for a high enough mortgage. The seller of the home won't wonder if he can trust you to qualify for your mortgage in the amount you'll need.Your qualifying for the necessary loan amount will not be something for them to fret over. They have a virtual guarantee to trust your buying power.

We can help you pre-qualify

We can help you see how much of a mortgage you can afford, and how much money you will be able to borrow, by taking you through the pre-qualification process. We can do this by reviewing your income and debts, your employment and residence situations, your funds available for a down payment, required reserves, and other financial considerations. It's a short, thorough process with minimal risks for papercuts.

One-on-One

While you can try our mortgage calculators on this site, it will be essential to meet with one of our mortgage professional team members. That way, we will be able to help you get your pre-qualification letter. For another thing, we might locate a different mortgage program that better fits your needs. We're eager to hear from you: contact us at (808) 935-0678.

Have questions about pre-qualifying? Call us at (808) 935-0678. Family Mortgage Company of Hawaii, Inc. NMLS #244497 answers pre-qualifying questions every day.