Why it's Important to Pre-Qualify
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It's valuable to consult with your mortgage loan professional as soon as possible — even before you've begun researching neighborhoods. Why? Perhaps it's difficult to understand the ways in which we can help even before you begin to calculate your offer.
We will help you calculate how much of a mortgage you can afford, and the amount of money you may be able to borrow, by walking you through the pre-qualification process. We do this by reviewing your debts and income, your employment and residence situations, your available funds for down payment, required reserves, and other considerations. It's quick and to the point; We keep the paperwork to a minimum.
After you are considered eligible, we will prove our confidence in your ability to qualify for a loan by giving you a Pre-Qualification Letter (also known as a "pre-qual").
When you locate a house that catches your eye, and you decide to make an offer, being pre-qualified for a mortgage will do several things. First of all, you have some general numbers in mind, as the amount you will qualify for with your mortgage loan.
Even more important to the seller of the house, your pre-qualification status gives them certainty - as if you had come into their house with a big box of cash to make the offer! They will not have to be concerned they have been wasting their time if you won't be able to be able to qualify for a big enough mortgage. The seller won't be concerned that he can't trust you to qualify for your loan.Your qualifying for the necessary loan amount will not be something for them to worry about. You have the capability to back up your offer.
We can help you pre-qualify
When we pre-qualify you, we help you decide the amount you can afford in monthly mortgage payments you can fit in your budget, and the size of loan you will qualify for. During this process, we calculate your capacity to borrow - looking at your employment, money available for down payment, debt, income, and other circumstances. We require a minimum amount of paperwork, and avoid a lengthy process.
Face to Face
You can always use the mortgage calculators here on our website to get an idea of how much mortgage you'll be able to afford - but it's also essential to meet with one of our mortgage professionals. That way, we'll help you get your pre-qualification letter. For another thing, we might find a different mortgage option that better fits your needs. Let us get you started: Contact us at 512-592-5462.
Have questions about pre-qualifying? Call us at 512-592-5462. We answer pre-qualification questions every day.