Why Pre-Qualification is Important
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It's valuable to see a mortgage professional early, even before you have decided what sort of house to look for. What for? How can we help you before you have made an offer, and do not know yet the amount you need to borrow?
We Can Help You Pre-Qualify
When we pre-qualify you, we help you figure out the amount in monthly payments you can fit in your budget, and the loan amount you can qualify for. The process leads you through your finances - your debt, income, career, and down payment money, among other things. It's short and to the point; We take pride in keeping the paperwork to a minimum.
After you qualify, we give you what's called a Pre-Qualification Letter (your real estate agent may refer to it as a "pre-qual"), which says that we are working with you to find the right loan to fit your situation and that we're confident you will qualify for a mortgage for a certain amount.
Power in the Pre-Qual
Armed with your pre-qualification letter, several advantages fall at your feet when you locate the house you want to put together an offer on. First, it lets you know how much you're able to offer.
Even more important to the present owner, your pre-qualification gives them confidence - as if you'd come into their home with a big box of cash to make the offer! They need not wonder if they're wasting their time if you will not have the ability to qualify for a big enough mortgage loan. The seller won't be concerned that he can't count on you to qualify for your mortgage in the amount you'll need.Your qualifying for your needed loan amount will not cause them concern. You have the ability to back up your offer.
We help with your pre-qualification
We will help determine how much of a mortgage loan you can afford, and the amount of money you may be able to borrow, by walking you through pre-qualifying. We can achieve this by considering your income and debts, your work and residence circumstances, your available funds for down payment, required reserves, and some other things. It's quick and basic; and we keep the paperwork to a minimum.
Face to Face
You can certainly use the mortgage calculators here on this website to get an idea of how much mortgage you'll be able to afford - but it's also essential to meet with us. For one thing, you'll need a Pre-Qualification Letter! For another thing, we might find a different mortgage loan option that is a better fit for you. Contact us at (512) 291-6100 to get started.
Have questions about pre-qualifying? Call us at (512) 291-6100. We answer pre-qualification questions every day.