When we pre-qualify you, we help you determine how much of a monthly mortgage payment you can fit in your budget, and the size of loan you can qualify for. We do this by analyzing your income and debts, your employment and housing circumstances, the funds available for a down payment, required reserves, and other considerations. It's short and basic; We take pride in keeping the paperwork light.
At the point you are determined to be eligible, we document our confidence in your capacity to qualify for a mortgage loan by giving you a Pre-Qualification Letter (also called a "pre-qual").
During the pre-approval process, we will check your financial background to determine how much money you are qualified to borrow and the estimated interest rate you will pay.
A pre-approval is free and without obligation. If your application is declined, we are still here to help you build up your credit. With that pre-approval, you will know just how much house you can afford to buy. While this is helpful information, you need to decide for yourself if you can live comfortably with the amount of your suggested mortgage and the associated monthly mortgage payment.
Now it’s time for the fun part: home shopping. Using your pre-approval amount as a guide, shop for homes within your budget.
Since sellers and REALTORS® view pre-approved buyers more favorably, shop with confidence. You’ll come across as a much more serious buyer than any non pre-approved competitors.
This video will give you an idea about the whole loan process.
Pre-qualification vs Pre-approval - Defined
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As a Real Estate Broker, I know nothing impacts a buyer’s transaction more than the loan process. I recently closed a very difficult transaction with Eddie Skinner and his team. Wow, the service was unbelievable. My client was forced to terminate an existing contract on Nov. 27th, the day before Thanksgiving. He had to be out of his current residence by Dec. 13th! I got the buyer under a new contract the same day we terminated the other, and Eddie was able to close this deal on Dec 9th! That was in only 7 working days! 7 days! And Eddie attended the closing!"
I began my pre approval process back in September with a different lender. After 3 months, we were getting no where. Then I found Eddie Skinner. Him and his team have been amazing. Within 1 month of working with him, I got my pre approval, found my dream house and am now set to close. Eddie and his team were on the ball every step of the way and went above and beyond, speaking to my realtor and even the seller! They handled every issue that arose promptly and professionally. I will never use another lender. Best lender EVER!"
Eddie walked us through the entire process. This was our first home to buy and Eddie helped every step of the way. He was always willing to answer any questions and I never felt like I was bothering him. Eddie was great to work with and really wanted the best for my wife and I. We had a great experience working with Eddie and will use him again when we have to move! He also worked really hard to get the best deal for us and our situation."
22415 Two Lakes Dr,
Tomball, TX 77375
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