The fact of the matter is sellers want to know you, as the buyer, have been pre-qualified for a mortgage. One, it's a confirmation to the seller that you are motivated and ready to buy. Two, it gives sellers the confidence that you can close on the property, if they indeed decide to accept your offer.
In the past, it was not uncommon for prospective buyers to go out and view properties prior to getting pre-qualified. However, in today's market with qualifying standards as they are, sellers are more leary of taking a purchase offer into consideration that does not have a letter of qualification attached.
Most likely you have a monthly payment in mind that would be comfortable for you and your family, but the question remains whether or not the bank and/or mortgage company will agree with that amount.
In the pre-qualification process you will be counseled on the following:
How much home you can afford.
How much cash, if any, you will need for the down payment.
Advantages of making a larger down payment on a home.
The different mortgage packages you qualify for, and an explanation on the benefits of each.
A recommended monthly payment that would be comfortable for you and your family based on your current financial situation.
A good faith estimate which gives you a breakdown of the estimated closing costs on an itemized report.
Guidelines on maintaining your credit during the process of purchasing a home.
Remember: Team Tiller and our affiliates will respect your privacy! We understand that even this basic information is personal, and we will only distribute it to our perferred mortgage brokers with you express permission.
This service is provided FREE of Charge and there is No Obligation when filling out the form below. It is our responsibility as Top Producing North Texas agents to offer services like these to buyers like yourself.
To get started with your FREE pre-qualification, simply fill out the form below, or call us toll free at 866-874-7060 and we can get you together with a mortgage broker promptly.
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