The Importance of Pre-Qualifying
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It can be valuable to visit with a mortgage professional first, even before you have determined what type of house you hope to find. Why? When you don't yet know how much house you need to qualify for, what could we help you with?
We Will Help You Pre-Qualify
We will help you calculate how much of a mortgage you can afford, and the amount of money you can borrow, by taking you through pre-qualifying. We can accomplish this by analyzing your income and debts, your employment and residence situations, the available funds for down payment, required reserves, and other financial considerations. We will require a minimum amount of paperwork, with a quick process.
When you are considered eligible, we will prove our confidence in your ability to qualify for a mortgage loan by giving you a Pre-Qualification Letter (also called a "pre-qual").
Power in the Pre-Qual
A number of advantages open to you when you have found your new house, and have pre-qualification power. First of all, you have some definite numbers in mind, as the total you will be able to borrow.
Even more important to the present owner, your pre-qualification gives them certainty - as if you'd arrived at their house with a bag of cash to make the offer! They need not worry that they are wasting their time if you can't have the ability to qualify for a big enough mortgage. The seller 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 be something for them to be concerned about. You have the ability to back your offer up.
We help with your pre-qualification
When we pre-qualify you, we help you decide the amount you can afford in monthly payments you can afford, and the loan amount you will qualify for. During this process, we determine your capacity to borrow - looking at your earning status, money available for down payment, existing debt, income, and other circumstances. It's quick and to the point; and we keep the paperwork to a minimum.
Face to Face
While you are encouraged to try our tools to calculate mortgage variables on this website, it's essential to sit down and talk with one of our mortgage professional team members. That way, we'll be able to help you get your pre-qualification letter. For another thing, we may find a different mortgage program that better fits your needs. Let us help you get started: Contact us at (512) 291-6100.
Have questions about pre-qualifying? Call us at (512) 291-6100. We answer pre-qualification questions every day.