Why it's Important to Pre-Qualify when buying a home?

Even if you haven't  researched homes to view yet, it's valuable to visit with your mortgage pro early. Why? Knowing what you can spend under different loan programs before searching for a home has many advantages plus First Equity provides a property listing site Buzzillion.net, where you can shop privately for homes throughout "All" of North Alabama. We'll help you narrow your home and realtor search in markets that matches your specific interest.

We Will Help You Pre-Qualify

We will help you calculate how much of a mortgage you can afford, and the amount of money you may be able to borrow, by taking you through the pre-qualification process. We can accomplish this by analyzing your income and debts, your work and residence circumstances, the funds available for a down payment, required reserves, and other  considerations. It's quick and to the point; We keep the paperwork to a minimum.

At the point you are determined to be eligible, we prove our confidence in your capacity to qualify for a mortgage loan by awarding you a Pre-Qualification Letter (also known as a "pre-qual").

Pre-Qual Bargaining Power

Various advantages open to you after you find your next house, and have achieved pre-qualification power. First, you have some general numbers in mind, as the total you will qualify for with your mortgage loan. Of greater importance to the home seller, your pre-qualification is like your having entered their house with a bag full of money  to purchase their home! They need not worry that that they're wasting their time if you won't be able to have the ability to qualify for a big enough mortgage loan. The seller won't be concerned that he won't be able to count on you to qualify for your mortgage in the amount you will need.Your qualifying for the necessary mortgage loan amount won't cause them concern. They have a virtual guarantee to trust your ability to back up your offer.

We will help you with your pre-qualification

We will help you find out the loan amount you can qualify for and the monthly payment amount you can afford by helping you pre-qualify. This process outlines your  financial situation - your debt, income, employment, cash available for down payment, among other things. It's short and to the point; and we take pride in keeping the paperwork to a minimum.


It is vital for you to sit down and talk with us, even though you are free to also utilize the helpful mortgage loan calculators on our site. For one thing, you'll want a Pre-Qualification Letter! For another thing, we could be able to find a different mortgage choice that is a better fit for you. We are eager to meet with you: call us at 256-543-0670.

Have questions about pre-qualifying? Call us at 256-543-0670. First Equity Home Loan, Inc. answers pre-qualifying questions every day.

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