The Importance of Pre-Qualifying

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It's valuable to consult your mortgage professional as soon as possible — even before you've started to research neighborhoods. Why? Perhaps it's difficult to understand the ways we can help even before you begin to negotiate.


We can help determine how much of a mortgage you can afford, and how much money you will be able to borrow, by taking you through the pre-qualification process. The process walks you through your current financial situation - your debts, income, employment, and down payment money, among other things. It is a quick, thorough process with minimal risks for papercuts.

After you qualify, will give you what's called a Pre-Qualification Letter (your real estate agent might refer to it as a "pre-qual"), which says that we are helping you to find the best mortgage to meet your situation and that we are confident you will qualify for a mortgage loan up to a specific amount.

Buying Power

Holding your pre-qualification letter, several advantages are yours once you find the home you want to put together an offer for. The first is that you can know what you'll be able to afford when putting together the offer. Of greater importance to the current home owner, your pre-qualification is like your having entered their house with a suitcase full of money to purchase their home! They will not have to worry that that they're wasting their time if you do not have the ability to qualify for a big enough mortgage loan. The seller won't be concerned that he can't count on you to qualify for your mortgage in the amount you will need.Your qualifying for the necessary mortgage loan amount won't cause them concern. They have a virtual guarantee to trust your ability to back up your offer.

We can help you pre-qualify

When we pre-qualify you, we help you determine the amount you can afford in monthly mortgage payments you can fit in your budget, and the loan amount you will qualify for. We will accomplish this by analyzing your debts and income, your work and residence situations, your available funds for a down payment, required reserves, and other financial considerations. We will require a minimum amount of paperwork, and avoid a lengthy process.


While you can try our mortgage calculators on our website, it's essential to meet with us. For one thing, you'll need a Pre-Qualification Letter! Then, we'll make sure we have the best mortgage loan program for your situation. Contact us at 5122791520 to get started.

Have questions about pre-qualifying? Call us at 5122791520. We answer pre-qualification questions every day.

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Rick Brown, Elite Financing Group

RMLO NMLS #279018 Company NMLS #212369

RMLO NMLS #279018 Company NMLS #212369 3415 Greystone Drive Suite 205
Austin, TX 78731