How to get Pre-Qualified for A Mortgage

Pre-qualifying for a mortgage is a wise step toward your goal of homeownership. With an estimate of the amount that you may be eligible to borrow, you will be able to shop for a home with far more confidence.

A helpful mortgage professional will take the time to ask about your income, assets, debts and funding sources toward the closing costs for your new home.

Why Get Pre-Qualified?

While you might already have a budget in mind for a monthly mortgage payment, knowing that your desired home-shopping range is affordable for your current financial situation might be priceless.

Before you start to search for a new home, here are a few reasons why you should get pre-qualified.

• Introduction to various loan options
• Reflects your preparation
• Ability to target affordable homes
• Eliminates bids on unaffordable properties
• Saves on your travel time
• Provides greater clarity about your buying power
• Increases your confidence

Steps to Get Pre-Qualified for a Mortgage Loan

1. Speak with one of our lending professionals.
2. Provide verbal information about your credit history, earnings, monthly debts, approximate amount of funds that you plan to use toward a down payment on a home and about money for closing costs.
3. After a careful overview of your current financial situation, your loan officer can determine whether you are eligible to receive a mortgage pre-qualification.

The initial information that you share with a licensed loan officer is used to generate a mortgage pre-qualification. A loan commitment will require additional qualifying conditions. Speak with your loan officer for more information.

Our Assumptions

• Mortgage rates could fluctuate daily.
• Based on your situation, your payments may vary.
• See what products are available in your state.
• Certain jumbo products might not be available to you if you’re a first-time buyer.
• Some lending services might not be available in all areas. See what’s available to you.
• Some restrictions may apply.
• The lock period for your rate is 45 days.
• Perennial Funding offers a variety of options. You may still qualify for a loan even if your situation doesn’t match our assumptions. Consult us to find out what’s available in your area, and which solutions are best for you.

Get Your Pre-qualification!