By coming to First Mortgage and being pre-qualified before you’ve decided on a specific property has many advantages.  By being pre-approved, you’ll be looking at homes that you and your RealtorÒ know you can afford.  This demonstrates your ability to purchase a home and gives a stronger position while negotiating with a seller.  

After your pre-qualification interview you will receive a printout called a “Good Faith Estimate” which shows all the fees associated with obtaining your mortgage.  This printout will help you evaluate the true costs, and provides you with accurate information about your loan. 

What are the advantages to being pre-qualified for a mortgage?  By being pre-approved, you’ll be looking at homes you and your RealtorÒ know you can afford.  This demonstrates your ability to purchase a home and gives a stronger position while negotiating with a seller.  Spending weeks or even months with your Realtor looking for just the right home, only finding out that you can’t qualify for the necessary loan amount, can be a frustrating experience.  This problem could have been avoided by visiting a mortgage professional early in the process.  Also, it gives you the opportunity to solve problems that may occur during the processing of your loan without delaying the closing.