Why it's Important to Pre-Qualify
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It can be important to visit with a mortgage loan pro first, even before you've determined the kind of house you hope to find. What for? If you do not know yet how much house you need to qualify for, what can we help you with?
When we pre-qualify you, we help you decide the amount in monthly mortgage payments you can fit in your budget, and the size of loan you will qualify for. During this process, we determine your capacity to borrow - analyzing your employment, money available for down payment, debt, income, and other circumstances. It's quick and basic; We keep the paperwork light.
Once you are determined to be eligible, we prove our confidence in your ability to qualify for a mortgage by giving you a Pre-Qualification Letter (also known as a "pre-qual").
Several advantages open to you when you find your dream house, and have pre-qualification. The first is that you will know what you'll be able to afford when determining the offer.
Having pre-qualification also will make your offer look even better to the seller, like you were bringing them a suitcase of cash! They will not need to worry that they're wasting their time if you do not be able to qualify for a big enough mortgage loan. The seller won't wonder if he can count on you to qualify for your loan.Your qualifying for the necessary mortgage loan amount won't cause them concern. They have a virtual guarantee that they can trust your ability to back up your offer.
We can help you pre-qualify
When we pre-qualify you, we help you decide the amount you can afford in monthly payments you can afford, and the loan amount you can qualify for. We can do this by analyzing your debts and income, your employment and housing circumstances, your funds available for down payment, required reserves, and other financial considerations. It is a short, thorough process with minimal risks for papercuts.
One on one
You can always use the calculators available on our site to calculate the size mortgage you'll be able to afford - but it's also essential to meet with us. That way, we will be able to help you get your pre-qualification letter. Next, we can consider your loan options and make sure you have found the right one. We're eager to meet with you: call us at (281) 778-0805.
Have questions about pre-qualifying? Call us at (281) 778-0805. We answer pre-qualification questions every day.