If you are thinking of buying a new home in Milwaukee or any other large city In America it is very critical that you talk to a Mortgage Lender before you start your search for a new home.

Why You May ask?

What can a home mortgage lender do for you if you do not know how much you are going to spend on your new home? When a mortgage professional pre qualifies you for a home purchase they let you know how much of a monthly payment you can afford and how much you can borrow based on that amount.

This is accomplished by looking at your income, credit rating and debt load, employment history, rental history and the amount you have for a down payment. There are others factors involved but those are the major ones. The paperwork is not overwhelming and its actually a very fast and easy process to go through.

Once we determine your eligibility and borrowing amount we will issue you a Pre-Qualification letter. This letter states that we are your mortgage company and after reviewing your situation we are confident that you will be approved for a loan for no more then the amount stated.

Being pre-qualified is very important when making an offer a new home and does a few important things for you.

First off it lets you know how much you can safely offer the seller. Your Realtor will be able to determine a fair offer price for the home, but having the pre-qualification letter gives you the ability to follow through on the purchase.

Additionally the home seller knows that you are a serious buyer that should have no issues with obtaining a mortgage for the home. Its almost as good as having cash in hand!

The sellers know they will not have to go through the sale process only to be let down when you cannot qualify for a mortgage. It really gives you alot of clout as a buyer and your offer will more then likely be accepted over a non pre approved borrower.

If you want a quick idea of how much of a house you can afford to buy you can use the mortgage pre qualify calculator on our website. But please realize that it is very important to actually met with us face to face so we can issue a proper pre qualification letter to you so please feel free to contact us with any questions you have about mortgage pre approval.