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The first thing you should do before you have any homes picked out to visit, is to talk to one of our loan officers and get pre-qualified. When you are pre-qualified by FMBC, you receive a letter from us stating that you are working with that us to find the best loan for you and that we are certain you would qualify for a home at a given price.
Being pre-qualified is so important that it will often be the first request your Realtor will ask of you. In fact, more and more Realtors make notations in their listings that pre-qualification letters must be accompanied with any offer. It is an important first step that you do not want to overlook. Doing so, could cost you the home of your dreams! Having that pre-qualified letter will give you clout with the seller when you are ready to make an offer as well and an edge on any competition bidding on the same home that have not been pre-qualified.
While our mortgage calculators can give you an idea of what you can afford to buy, the Seller will want to see a pre-qualification letter before authorizing their Realtor to mark the property as pending and remove it from the market.
Our Loan Officers can qualify you by considering your income, debts, employment, your current resident situation, (do you need to sell a home in order to buy one?) your down payment and reserves funds. Certain other aspects may need to be considered as well based on your unique situation. However, once qualified, Sellers will be more receptive to your offers as they can trust their negotiations are being made based on your ability to buy.
Take that first step today, Get Pre-qualified now by filling out our loan application online!