Getting Pre-Approved For My Mortgage In Houston, Texas

Are you trying to get pre-approved for a mortgage in Houston, Texas? Well, you need to brace yourself pal because that’s going to be one hell of a ride. And we’re not trying to be dramatic or anything, just stating facts.

You know, We Buy Fast Houston Houses did sit down with a few real estate experts the other day, and what we learned was not surprising to say the least. Apparently, the reason why this process is always slow, complicated, and stressful is because the house supply is low but the demand is rising. Prices seem to be increasing by the hour and as a result, everybody is being caught up in bidding wars.

We know you’re wondering where the pre-approval of a mortgage fits into all this, but don’t worry. We were just getting to it.

As you all know, the pre-approval letter is the one thing you need to show a Houston, Texas how serious you are about buying their home fast. It’s a sign the bank or lender see you as a qualified buyer, and should they choose to work with you, you’ll help make the process quick and hiccup free.

It almost like a guarantee or a promise that you have the funds to make the deal happen because by the time you’re given that letter, the lender will have already gone through your financial records. If there were something that they didn’t like, they would have withheld that letter.

How long does it take to pre-approve a Houston, Texas homebuyer?

First of all, let’s get something clear. Pre-approval isn’t the same as pre-qualification. These two are different process. Pre-qualification can be done in less than an hour, while pre-approval will most likely take 7 to 10 days. How fast the process is will depend on the client applying to be pre-approved, and the mortgage lender.

On your part, all you’ve got to do is make sure your application is correctly filled and all the required documents are present. Chances are the lender will demand something that can prove that you’re employed or have a steady income stream. So make sure you have your payroll stubs and tax returns in hand.

Other than those two, you’ll also be required to submit a list of all the debts that you’re still in the process of repaying. We’re referring to the student loans, automobile loans, credit car bliss, etc. and please accompany them with your recent bank statements because they’ll need to know what kind of assets you own.

How long can I wait before buying my home after getting pre-approved?

We Buy Fast Houston Houses doesn’t know why buyer’s always think they have unlimited time once they get pre-approved. The fact of the matter is, once you hit 180 days, sellers—and even the real estate agents with them—will start to question your letter.

And the reason behind this is simple. A pre-approval letter categorically states what your financial situation is like at a certain moment in time. Therefore, the more time that passes, the higher the chances your financial situation could change. And that’s why.

We know you still have a lot to question to ask, and that why we’re asking you to reach out to We Buy Fast Houston Houses. We do not charge any consultation fee, so please don’t hesitate.

We will be happy to hear your thoughts

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