Craig Carver Group - RE/MAX Craig Carver Group - RE/MAX

RE/MAX Friendswood - (281) 482-9444

Craig Carver

281-482-9444
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Getting Pre-Approved Should Always Be Your First Step

In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search.

Even if you are in a market that is not as competitive, understanding your budget will give you the confidence of knowing if your dream home is within your reach.

Freddie Mac lays out the advantages of pre-approval in the ‘My Home’ section of their website:

“It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets.”

One of the many advantages of working with a local real estate professional is that many have relationships with lenders who will be able to help you with this process. Once you have selected a lender, you will need to fill out their loan application and provide them with important information regarding “your credit, debt, work history, down payment and residential history.”

Freddie Mac describes the ‘4 Cs’ that help determine the amount you will be qualified to borrow:

  1. Capacity: Your current and future ability to make your payments
  2. Capital or cash reserves: The money, savings, and investments you have that can be sold quickly for cash
  3. Collateral: The home, or type of home, that you would like to purchase
  4. Credit: Your history of paying bills and other debts on time

Getting pre-approved is one of many steps that will show home sellers that you are serious about buying, and it often helps speed up the process once your offer has been accepted.

Bottom Line

Many potential home buyers overestimate the down payment and credit scores needed to qualify for a mortgage today. If you are ready and willing to buy, you may be pleasantly surprised at your ability to do so.

How can The Craig Carver Group Help? 

Craig and has many connections in the lending industry and can point you in the right direction.  Give him at call at 281-482-9444

  • Content courtesy keepingcurrentmatters.com

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About Craig

Craig is the Team Leader at Craig Carver Group and has been in the real estate business since 1994, he is a Top Producing agent for RE/MAX. Whether buying or selling a home he is here to make the process as stress free as possible and to ensure that you have the best experience buying or selling your home. Craig really cares about the community and is always happy to help his clients. The market is always changing just like the ever-changing needs of his clients and Craig is always up to date on the latest technology and marketing tools to get your home sold as quickly as possible. Choosing Craig Carver as your agent is the right choice, call us today!
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Craig Carver Realtor® – RE/MAX
1212 Winding Way  Suite A,
Friendswood, TX 77546

281-482-9444

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