The Importance of Pre-Qualification
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Searching for a mortgage loan? We'll be glad to talk about our many mortgage solutions! Give us a call today at 817-878-4220. Ready to begin? Apply Now.
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It is important to consult with your mortgage loan professional as soon as possible — even before you have begun researching neighborhoods. What for? What can we do for you before you have negotiated a purchase amount, and don't yet know the amount you want to borrow?
We Can Help You Pre-Qualify
When we pre-qualify you, we help you determine the amount in monthly mortgage payments you can fit in your budget, and how much we of a loan you will qualify for. We will achieve this by considering your debts and income, your work and residence situations, your available funds for a down payment, required reserves, and other financial considerations. We require a minimum amount of paperwork, with a quick process.
At the point you are determined to be eligible, we document our confidence in your ability to qualify for a mortgage loan by awarding you a Pre-Qualification Letter (also known as a "pre-qual").
Power in the Pre-Qual
Once you locate the house that is best for you, and you decide to make an offer, being pre-qualified for a mortgage will do a couple of things. First of all, you have some general numbers in mind, as the amount you will be able to borrow.
Having pre-qualification also will make your offer more attractive to the home seller, like you were bringing them a suitcase of cash! They will not need to wonder if they're wasting their time if you do not be able to qualify for a high enough mortgage. 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 mortgage loan amount will not be something for them to lose sleep over. They have a virtual guarantee to trust your ability to back up your offer.
We help with your pre-qualification
We can help you calculate how much of a mortgage loan you can afford, and the amount of money you can borrow, by walking you through the pre-qualification process. The process takes you through your finances - your debt, income, career, cash available for down payment, among other things. It's quick and to the point; and we keep the paperwork light.
Have questions about pre-qualifying? Call us at 817-878-4220. We answer pre-qualification questions every day.