Note: By submitting your request, you grant permission for New Penn Financial to contact you by email or phone even if you are registered on any "do-not-call list."
Pre-qualification offers at least three major benefits:
The New Penn Financial pre-qualification process is free, fast and easy. Call us and let us answer all your questions.
It is our summary review of your income, assets and credit obligations and a document that establishes:
Think of a pre-qualification as a "mortgage approval lite." While not as exhaustive, it does require much of the same documentation such as proof of adequate income and assets. It also requires an examination of your credit report (supplied by a credit bureau). We evaluate this information and decide whether or not you qualify for a mortgage, the amount you may borrow, and the maximum home purchase price.
You receive a letter that documents the above. It is proof that you qualify and it satisfies the requirements of buyer's and seller's real estate agents-a big plus for you as you shop!
With your financial information in hand, we can often issue a pre-qualification in less than 15 minutes! All borrowers are individuals, with individual situations, and we may take longer for more complex financial situations or where special considerations are warranted. In each case, an expeditious pre-qualification process is our priority.
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