Why Pre-Qualification is Important
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It can be valuable to see a mortgage professional first, even if you haven't settled on what type of house you hope to find. Why? When you do not know yet how much house you need to qualify for, how can we help?
We Can Help You Pre-Qualify
We will help determine how much of a mortgage you can afford, and how much money you can borrow, by walking you through the pre-qualification process. During the process, we determine your ability to borrow - reviewing your employment, available money for down payment, debt, income, and other areas. It's a quick, thorough process with minimal risks for papercuts.
After you are considered eligible, we document our confidence in your capacity to qualify for a loan by awarding you a Pre-Qualification Letter (also known as a "pre-qual").
With your pre-qualification letter, several advantages fall at your feet when you find the home you want to put together an offer for. First of all, you have some general numbers in mind, as the total you will qualify for on your mortgage.
Of greater importance to the home seller, your pre-qualification is like your having walked into their house with a bag full of money to make the deal! They will not have to wonder if they have been wasting their time if you won't be able to have the ability to qualify for a big enough mortgage. The seller won't be concerned that he won't be able to trust you to qualify for your mortgage in the amount you will need.Your qualifying for the necessary loan amount will not be something for them to fret over. You'll have the clout of a buyer ready to make the purchase right now!
We will help you pre-qualify
When we pre-qualify you, we help you decide the amount you can afford in mortgage payments you can afford, and the loan amount you can qualify for. This process outlines your financial situation - your debts, income, employment, cash available for down payment, among other things. We require a minimum amount of paperwork, with a quick process.
You can always use the mortgage calculators available on our website to get an idea of how much mortgage you'll be able to afford - but it's also valuable to talk with one of our mortgage professionals. That way, we'll help you get your pre-qualification letter. For another thing, we might locate a different mortgage loan option that is a better fit for you. We are waiting to meet with 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.