You might have an idea of the loan payment and mortgage you can afford. But will the bank feel otherwise? It's always best to pre-qualify for a mortgage so you know exactly how much a financial institution would be willing to lend you.

In the pre-qualification process, you will find out:

     -  Exactly how much home or land you can afford.
     -  How much cash you will need for the down payment.
     -  The minimum down payment, and advantages of higher down payments.
     -  What the bank feels you can afford for a monthly payment.

I help buyers pre-qualify for mortgages every day. Simply fill out the form below to get started.

Remember: I will respect your privacy! I know this is your personal information, and I will not distribute it to anyone, other than to my preferred mortgage broker. This service is also provided free of charge, without any obligation on your part. It is part of my job as a Collegeville, Schwenksville, Limerick and Phoenixville real estate agent to offer services such as these.

Once you fill out the form, I will quickly process your information and get right back to you!

Applying for a loan and obtaining approval before a buyer finds a home they want to buy can be a distinct advantage.  Making a loan application will be necessary eventually anyway unless you are going to pay cash for the home.

Pre-qualification is a procedure where you get an opinion from a mortgage officer about how much you qualify for.  In the process, any obvious difficulties that might cause problems might be discovered.  This process is always recommended but it does not have the advantages of a pre-approval.

Pre-approval requires a complete application with credit reports and verifications.  The mortgage company will issue a commitment subject to a specific interest rate and points and a satisfactory appraisal when the property is identified.

Time limits are usually placed on pre-approval commitments.  It is recommended to be ready to look at homes and make a decision after you receive your pre-approval commitment.

The advantage of pre-approval are: