Why Pre-Qualification is Important
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It is helpful to bring in your mortgage professional as soon as possible — even before you have started narrowing down neighborhoods. Why? What can we do for you if you have not negotiated a purchase amount, and do not yet know the amount you need to borrow?
When we pre-qualify you, we help you figure out the amount in monthly payments you can afford, and the loan amount you will qualify for. In this process, we calculate your ability to borrow - looking at your earning status, available money for down payment, existing debt, income, and other circumstances. We will require a minimum amount of paperwork, with a quick process.
We give you a Pre-Qualification Letter once you qualify, which documents that we're confident you'll qualify for up to a certain amount of mortgage loan dollars.
Armed with your pre-qualification letter, several advantages fall at your feet once you find the house you want to put together an offer for. First of all, you have some general numbers in mind, as the amount you can borrow.
Even more important to the seller, your pre-qualification status gives them confidence - as if you had arrived at their home with a big box of cash to make the offer! They will not have to worry that they are wasting their time if you do not have the ability to qualify for a big enough mortgage. The seller of the home 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 your needed mortgage loan amount won't cause them concern. You have the capability to back your offer up.
We will help you pre-qualify
We will help you see how much of a mortgage you can afford, and how much money you can borrow, by taking you through pre-qualifying. We achieve this by reviewing your income and debts, your employment and residence situations, the funds available for down payment, required reserves, and some other things. It's short and to the point; and we take pride in keeping the paperwork light.
Face to Face
You can certainly use the calculators on this website to get an idea of how much mortgage you'll be able to afford - but it's also essential to talk with us. We can begin working on your pre-qualification letter. Then, we will make sure we have selected the best mortgage program for your situation. Let us help you get started: Call us at (281) 778-0805.
Have questions about pre-qualifying? Call us at (281) 778-0805. It's our job to answer pre-qualification questions, so we're happy to help!