Do you need to get pre-qualified for a mortgage in Kalamazoo?

Before you begin to shop for a new home for sale in Kalamazoo, you need to get pre-qualified!  By meeting with the team at Kalamazoo Mortgage,  This will put you in a better position as a buyer, knowing what your budget is and making sure you will be able to afford your new home payment. That’s when it is important to understand the distinction between being pre-qualified for a loan and pre-approved for a loan. There can be a big difference between how much a family can be approved for and how much they can actually afford.  At Kalamazoo Mortgage, our goal is to put your famliy in the best finanical position possible and welcome you into ours!

To get pre-qualified for a Mortgage loan in Kalamazoo, we collect information about your debt, income, and assets. We’ll look at your credit profile and assess goals for a down payment to get an idea of different loan programs that would work best for you and your family. After a careful review of your monthly budget and desired housing payment, we will issue you in person written confirmation that you have take all steps necessary to Pre-Qualify for a mortgage in Kalamazoo!

it is important to understand that a pre-qualification letter is just an estimate of what you are eligible to borrow, not a commitment to lend. Getting pre-approved for a loan gives you competitive advantage when the time comes to bid on a home because you have been approved for a loan for a specified amount.

To get pre-approved by Kalamazoo Mortgage, you will complete a mortgage application and provide various information regarding your employment, assets and financial status such as W-2 forms, bank records and tax returns.  We’ll review your mortgage options and submit your application to the Kalamazoo Mortgage lender that best meets your needs. Once the application process is complete you will receive a pre-approval letter indicating the amount Kalamazoo Mortgage is willing to lend you for your home.