The Importance of Pre-Qualifying

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It is important to consult your mortgage loan professional early — even before you've started researching neighborhoods. What for? If you don't know yet how much home you need to qualify for, how could we help?


Our mortgage professionals will help you calculate the loan amount you can qualify for and the monthly payment amount you can afford by helping you pre-qualify. The process outlines your finances - your debt, income, job, and cash available for down payment, among other things. It's a short, thorough process with minimal risks for papercuts.

After you qualify, will give you what's called a Pre-Qualification Letter (your real estate agent may call it a "pre-qual"), that documents the fact that we are helping you to find the right loan to meet your needs and that we're confident you will qualify for a loan for up to a specific amount.

Buying Power

A number of advantages open to you when you find your dream house, and have pre-qualification power. First, you have some concrete numbers in mind, as the amount you will qualify for on your mortgage. Being pre-qualified also will make your offer look even better to the seller, like you were bringing them a big box of cash! They won't have to be concerned that they're wasting their time if you don't have the ability to qualify for a big enough mortgage loan. The seller of the home won't be concerned that he can't trust you to qualify for your mortgage in the amount you will need.Your qualifying for your needed loan amount won't cause them concern. You have the ability to back up your offer.

We help with your pre-qualification

When we pre-qualify you, we help you find out the amount you can afford in mortgage payments you can fit in your budget, and the loan amount you will qualify for. We can achieve this by considering your debts and income, your employment and residence situations, the funds available for a down payment, required reserves, and some other things. It is a short, thorough process with minimal risks for papercuts.

Face to Face

While you are encouraged to use our tools to calculate mortgage variables on our website, it is a good idea to sit down and talk with us. That way, we will be able to help you get your pre-qualification letter. Next, we can study your mortgage program choices to be sure you are in the right one. Contact us at (214) 736-9466 to get your pre-qualification process started.

Have questions about pre-qualifying? Call us at (214) 736-9466. Primary Residential Mortgage, Inc. answers pre-qualifying questions every day.