Why Pre-Qualification is Important
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Even if you've not narrowed down houses to view yet, it can be important to see your mortgage pro early. Why? What can we do for you before you have negotiated an amount, and don't yet know the amount you need to borrow?
When we pre-qualify you, we help you find out the amount in monthly mortgage payments you can afford, and the loan amount you will qualify for. We accomplish this by analyzing your income and debts, your employment and housing circumstances, your available funds for down payment, required reserves, and other considerations. It's quick and basic; We take pride in keeping the paperwork light.
When you are considered eligible, we prove our confidence in your potential to qualify for a loan by giving you a Pre-Qualification Letter (also known as a "pre-qual").
Power in the Pre-Qual
Holding your pre-qualification letter, several advantages are yours at the point you locate the house you want to put together an offer on. The first is that you'll know what you'll be able to afford when putting together your offer.
More important to the current home owner, your pre-qualification is like your having walked into their house with a bag full of money ready to purchase the house! They will not need to wonder if that they are wasting their time if you do not have the ability to qualify for a high enough mortgage loan. The seller of the home won't wonder if he can count on you to qualify for your mortgage in the amount you'll need.Your qualifying for your needed mortgage loan amount won't cause them concern. You have the capability to back your offer up.
We will help you with your pre-qualification
We will help determine how much of a mortgage you can afford, and how much money you may be able to borrow, by walking you through the pre-qualification process. We will achieve this by reviewing your debts and income, your employment and housing circumstances, your available funds for a down payment, required reserves, and other financial considerations. We require a minimum amount of paperwork, with a short, basic process.
Face to Face
It is vital to sit down and meet with us, even though you are free to also utilize the helpful mortgage calculator tools on our site. We can work toward your pre-qualification letter. Next, we can consider your mortgage loan choices and be sure you have chosen the best one. We're waiting to hear from you: contact us at (281) 778-0805.
Have questions about pre-qualifying? Call us at (281) 778-0805. We answer pre-qualification questions every day.