It is a very painless but informative step taken in the home buying process. Prequalifying provides you with the information you need in order to make educated decisions about your home loan. You provide us with the information that we need in order to let you know what loan programs are available to you as well as the maximum loan amounts that you qualify for. We can provide you with side by side comparisons of loan programs in order for you to see the difference in the monthly payments as well as the amount of funds that you would need in order to purchase. First time homebuyers as well as the experienced home buyers have an opportunity to ask the questions that you need answers to before you begin the process of selecting your home.

There are several reasons to prequalify. First, it allows you to be better prepared when you are in the "looking" process. You can be sure that the price range that you are looking in is appropriate. Second, your Realtor will take you more seriously. Your Realtor can have an exhausting amount of hours invested in your quest for finding a home. Knowing that you have been pre-approved for financing is a relief to your agent. Another important reason to prequalify is that it may play an important role in the Seller accepting your offer over another. If you are in a competing offer and your Realtor advises the Seller that you have been pre-approved for the financing, while the other party that has made an offer has not yet been through that process, which offer do you think that the Seller is more likely to accept? If the price offered is similar, the Seller is very likely to go for the sure bet. You can shop with confidence!

For all of the reasons previously stated, it is best to prequalify before you begin the process of looking for a home. We are always amazed at the number of customers that expect the prequalifying process to be difficult or painful. A large percentage of clients come in fearful that they will not be eligible for a home loan and are surprised to find out that it is easier than they anticipated. What do you have to lose? Nothing. Every customer will be informed of what would need to be accomplished in order to qualify should you not get the results you are looking for. At Northland Mortgage Company, we never say no! Sometimes we may have to say not now.