Why Pre-Qualification is Important
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It can be important to see a mortgage professional early, even before you've determined the sort of home you hope to find. What for? How can we help you before you have made an offer, and do not yet know how much you need to borrow?
When we pre-qualify you, we help you find out how much of a monthly mortgage payment you can afford, and the loan amount you can qualify for. During the process, we look at your borrowing potential - looking at your earning status, money available for down payment, debts, income, and other areas. It's quick and to the point; We take pride in keeping the paperwork to a minimum.
We'll award you a Pre-Qualification Letter when you qualify, which states that we're confident you will qualify for a predetermined amount of mortgage dollars.
Power in the Pre-Qual
After you locate the house that meets your needs, and you want to make an offer, being pre-qualified for a mortgage loan will do a number of things. First, it helps you know how much you are able to offer. Being pre-qualified also will make your offer look even better to the seller, as if you were bringing them a suitcase full of cash! They need not be concerned they're wasting their time if you do not be able to qualify for a big enough mortgage. The seller won't worry if he can trust you to qualify for your mortgage in the amount you'll need.Your qualifying for the necessary loan amount won't cause them concern. You have the capability to back your offer up.
We help with your pre-qualification
We can help you calculate how much of a mortgage you can afford, and how much money you may be able to borrow, by taking you through the pre-qualification process. We will do this by reviewing your debts and income, your work and housing situations, the available funds for down payment, required reserves, and other considerations. It is a short, thorough process with minimal risks for papercuts.
Face to Face
It is important for you to sit down and meet with us, even though you are welcome to also try the helpful mortgage loan calculators on our website. We can walk you through your pre-qualification letter. For another thing, we may find a different mortgage loan option that fits your situation better. We are eager to hear from you: contact us at (512) 335-7800.
Have questions about pre-qualifying? Call us at (512) 335-7800. We answer pre-qualification questions every day.