The Importance of Pre-Qualifying
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Even if you've not so much as picked out homes to view yet, it can be valuable to contact your mortgage loan professional first. Why? If you don't yet know how much house you need to qualify for, what can we help you with?
We can help determine how much of a mortgage you can afford, and the amount of money you can borrow, by walking you through the pre-qualification process. In this process, we calculate your ability to borrow - reviewing your earning status, available money for down payment, debts, income, and other areas. We will ask for a minimum amount of paperwork, and avoid a lengthy process.
Once you are considered eligible, we prove our confidence in your capacity to qualify for a loan by awarding you a Pre-Qualification Letter (also known as a "pre-qual").
Armed with your pre-qualification letter, some advantages fall at your feet once you locate the home you want to put together an offer for. First of all, you have some definite numbers in mind, as the amount you will be able to borrow.
More important to the home seller, your being pre-qualified is like your having walked into their house with a suitcase full of money ready to make the deal! They will not need to worry that they're wasting their time if you won't be able to have the ability to qualify for a big enough mortgage loan. The seller won't be concerned that he won't be able to count on 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 can have the sway of a buyer ready to make the deal right now!
We can help you pre-qualify
We can help you calculate how much of a mortgage loan you can afford, and the amount of money you can borrow, by taking you through the pre-qualification process. In this process, we explore your borrowing potential - looking at your employment, money available for down payment, debt, income, and other circumstances. It's short and to the point; and we take pride in keeping the paperwork light.
One on one
It's vital to sit down and meet with us, even though you are welcome to also utilize the helpful mortgage loan calculator tools on our site. For one thing, you will need a Pre-Qualification Letter! Next, we can review your mortgage options and be sure you have selected the best one. Let us get you started: Call us at (281) 778-0805.
Have questions about pre-qualifying? Call us at (281) 778-0805. We answer pre-qualification questions every day.