Why it's Important to Pre-Qualify
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It is important to bring in your mortgage professional early — even before you've started narrowing down neighborhoods. What for? How can we help if you haven't negotiated a price, and do not yet know the amount you need to borrow?
We can help you determine the loan amount you can qualify for and the monthly mortgage payment amount you can afford by helping you pre-qualify. We will accomplish this by considering your income and debts, your employment and residence circumstances, the available funds for down payment, required reserves, and some other things. It's quick and to the point; We take pride in keeping the paperwork to a minimum.
When you qualify, will give you a Pre-Qualification Letter (your real estate agent might call it a "pre-qual"), that states that we are helping you to find the right mortgage loan to meet your needs and that we're confident you'll qualify for a mortgage loan for a certain amount.
Once you locate the house that meets your needs, and you want to put together an offer, being pre-qualified for a loan will do a number of things. First, it helps you know the amount that you are able to offer.
Even more important to the present owner, your pre-qualification letter gives them confidence - as if you'd come to their home with a bag of cash to back up the offer! They will not need to be concerned they are wasting their time if you don't have the ability to qualify for a high enough mortgage. The seller of the home won't worry if he can trust you to qualify for your mortgage in the amount you'll need.Your qualifying for your needed mortgage loan amount won't be something for them to worry about. They have a virtual guarantee that they can trust your ability to back up your offer.
We can help you pre-qualify
When we pre-qualify you, we help you decide how much of a monthly payment you can fit in your budget, and how much we of a loan you will qualify for. This process walks you through your finances - your debt, income, employment, down payment money, among other things. It's quick and basic; and we take pride in keeping the paperwork to a minimum.
One on one
While you can use our mortgage calculators on this site, it will be a good idea to meet with us. That way, we will help you get your pre-qualification letter. Next, we can study your mortgage choices to make sure you have found the right one. Let us help you get started: Contact us at 713-598-4422.
Have questions about pre-qualifying? Call us at 713-598-4422. PETRIE MORTGAGE a Division of Network Funding, LP NMLS#2297 answers pre-qualifying questions every day.