Houston Home Buyers
Finding out how much house I can afford?
Providing Resources For Houston Home Buyers
Before you begin searching for your next Houston home, Your Houston realtors, The Zoller Group, recommends you determine what you can afford first. Because a qualified buyer always makes a stronger statement to the seller, it is also recommended you gain insight into the loan process by securing a loan pre-qualification letter or better yet a loan pre-approval (provided you are not paying cash). As your REALTOR® partner, Meg and Jim Zoller of the Zoller Group would be happy to recommend several lending consultants to begin this process. While securing a pre-approval letter is a more in-depth process, it clearly communicates to both the listing agent and the seller of your serious intent to purchase a Houston home.
The Pre-qualification Process - It's So Easy!
The submission of a loan pre-qualification may be accomplished by either submitting a request here at FineHoustonHomes.com or by calling us, The Zoller Group at (713) 980-5210. In either case, we never ask that you divulge any sensitive financial documents or information over the web. We only ask that you provide basic information about your finances — for instance, your household income versus your debt load. Armed with this information, a loan consultant will estimate your maximum loan amount.
Pre-approval Makes a Stronger Statement to Sellers
A pre-approval is more involved and will require you prepare your documentation for review by a lending expert. The lender will perform an extensive review of your finances, requiring pay stubs, tax records, credit accounts, bank statements and more. Based on your credit score, debt to income ratio and risk, the lender will provide you a figure, which will not only be a more reliable estimate of what you can afford, but your pre-approval also indicates that a lender is willing to do business with you, pending the purchase price, market appraisal and the underwriting process.
Smart Questions To Ask a Lender
As your Houston realtors, The Zoller Group will gladly refer you to several mortgage brokers who will discuss in detail your ability to finance a Houston home. The lenders will be a local lending expert who we have developed a strong trust and have provided outstanding service and competitive rates and fees. Ultimately, your relationship should be similar to that of your REALTOR®. Each party should feel a connection and a level of comfort. However, if you decide to do a little comparison shopping and look for a lender on your own, here are a few important questions to ask.
What loan programs do you offer and which one do you think is best for me?
How long will the loan approval process take?
What line items of the loan agreement – if any – are negotiable?
What is your policy for locking in interest rates, and will you honor a lower rate if it declines during the lock-in period?
Are there fees for prepaying on my loan?
Are you licensed in the state of Texas?
To begin the loan prequalification process today, READ MORE>>