Why Pre-Qualification is Important
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Even if you haven't so much as researched houses to visit yet, it's important to see your mortgage pro early. Why? Perhaps it is hard to fathom the ways in which we can help even before you begin to negotiate.
We Can Help You Pre-Qualify
We will help you see how much of a mortgage you can afford, and the amount of money you can borrow, by taking you through the pre-qualification process. The process takes you through your finances - your debt, income, employment, and down payment money, among other things. It's a quick, thorough process with minimal risks for papercuts.
When you are considered eligible, we prove our confidence in your capacity to qualify for a loan by giving you a Pre-Qualification Letter (also known as a "pre-qual").
Power in the Pre-Qual
Various beneifits open to you after you've found your dream house, and have pre-qualification. First of all, you have some concrete numbers in mind, as the amount you will qualify for with your loan.
Even more important to the existing owner, your pre-qualification gives them confidence - as if you had come to their home with a suitcase of cash to back up the offer! They will not need to be concerned that they are wasting their time if you will not have the ability to qualify for a big enough mortgage loan. The seller of the home won't be concerned that he won't be able to trust you to qualify for your mortgage in the amount you'll need.Your qualifying for your needed loan amount won't be something for them to worry about. They have a virtual guarantee that they can trust your buying power.
We will help you pre-qualify
We can help determine how much of a mortgage loan you can afford, and how much money you will be able to borrow, by taking you through the pre-qualification process. During this process, we calculate your capacity to borrow - analyzing your job, available money for down payment, debt, income, and other circumstances. It's short and basic; and we take pride in keeping the paperwork light.
One on one
You can always use the calculators on our website to calculate the size mortgage you will be able to afford - but it's also valuable to meet with one of our mortgage professionals. For one thing, you will want a Pre-Qualification Letter! Then, we'll make sure we have selected the right mortgage loan program for you. Contact us at (512) 291-6100 to get started.
Have questions about pre-qualifying? Call us at (512) 291-6100. Southwest Funding #841 answers pre-qualifying questions every day.