Why Pre-Qualification is Important
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It is important to bring in your mortgage professional early — even before you've started to research neighborhoods. What for? What can we do for you if you have not made your offer, and don't yet know the amount you need to borrow?
We can help determine how much of a mortgage you can afford, and the amount of money you may be able to borrow, by walking you through pre-qualifying. During the process, we determine your borrowing capacity - reviewing your earning status, available money for down payment, debts, income, and other circumstances. It's a short, thorough process with minimal risks for papercuts.
We will give you a Pre-Qualification Letter if you qualify, which documents that we are confident you will qualify for up to a certain amount of mortgage dollars.
Power in the Pre-Qual
After you find the house that meets your needs, and you decide to make an offer, being pre-qualified for a loan will do several things. First, it helps you know how much you're able to offer.
Of greater importance to the current home owner, your being pre-qualified is like your having entered their front door with a suitcase full of money to make the deal! They won't have to worry that they're wasting their time if you won't be able to have the ability to qualify for a high enough mortgage. The seller of the home won't be concerned that he can't count on you to qualify for your loan.Your qualifying for your needed mortgage loan amount will not cause them concern. You have the capability to back your offer up.
We will help you with your pre-qualification
Our mortgage professionals can help you find out the loan amount you can qualify for and the mortgage payment amount you can afford by getting you pre-qualified. We will accomplish this by reviewing your debts and income, your work and housing circumstances, the available funds for a down payment, required reserves, and some other things. It's a short, thorough process with minimal risks for papercuts.
You can always use the calculators here on this website to get an idea of how much mortgage you can afford - but it's also essential to meet with us. For one thing, you'll need a Pre-Qualification Letter! Next, we can study your mortgage program choices to be sure you have selected the right one. Contact us at (512) 731-8607 to get your pre-qualification process started.
Have questions about pre-qualifying? Call us at (512) 731-8607. It's our job to answer pre-qualification questions, so we're happy to help!