Get Pre-Qualified

What is a Pre-Qualification?

A pre-qualification is the final product of the analysis of a potential home buyers financials. An MLO (Mortgage Loan Originator) analyzes the subjects’ income, credit score and debts amongst other things to then come up with a maximum purchase price the potential home buyer.

If a person does not qualify then this can be compared to an X-Ray. An X-Ray helps medical professionals figure out what is wrong with their patients and this in turn helps them create a plan to help their patients heal. An attempt at acquiring a pre-qualification is never a failure. If you do not qualify to purchase a home now it will help you know what you must do in order to qualify to purchase the home of your dreams in the near future.

WhY Get Pre-qualified?

The first step in purchasing a home is getting your financials in order. Many first time home buyers are scared of this step due to not wanting to hurt their credit. Many like to view properties online and sometimes even go and see properties with no pre qualification. Many times, buyers that go this route end up broken-hearted when they find out that they do not have the buying power to purchase the property that they so dearly became enamored with. In other cases, we have the buyers that have always wanted to purchase a home and never thought that they would qualify. They then attempt to get pre qualified and to their surprise they have more buying power than they ever thought they would have.

The reality of the matter is that without a pre-qualification one cannot even attempt to make an offer on a home. This is the first and most important step in the process of purchasing a home.

How to Get Pre-qualified

In order to get pre-qualified, you must contact an MLO. Prior to contacting an MLO, these are the documents that Abner recommends you gather (preferably in Scanned Photographs or PDF format):

 

  • Last 2 Years Tax Returns
  • Last 2 Current Pay Stubs (not applicable if self-employed)
  • Last 2 Months Bank Statements
  • Drivers License
  • Social Security

Who Can Get You Pre-Qualified

Danny Crespo

E-mail: danny@closewithus.com

Phone: (954) 868-6895

Eulises Ibarra

E-mail: eulises@eulisesibarra.net

Phone: (561) 662-2250

Javier Infiesta

E-mail: jinfiesta@ahmcloans.com

Phone: (561) 386-8357

Questions? Contact Abner Below

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