July 13th, 2017 5:29 AM by Shawn Smith NMLS#863501
Homebuyers looking to buy a home Dallas should consider getting pre-approved. Sublime Financial helps our clients get home mortgages here in Dallas and the rest of Texas daily and we can tell you that in North Texas, it’s not just Dallas, it's a very hot housing market. Everywhere.
Many people looking for homes for sale in Dallas or anywhere else in Texas aren’t always sure what the difference is between being pre-qualified and pre-approved. We were asked this question just yesterday by a family looking to buy a home in Rockwall, Texas.
Pre-Qualified Home Buying In Dallas
The home buying process in Dallas, Texas and the rest of the state, is full of steps that can be very new for homebuyers. In brief, when Sublime Financial gets you pre-qualified, we are essentially giving you an estimate on the amount of a mortgage you can afford. The homebuyer will give us information on the amount of income, the amount of debt owed and credit score. After looking at all the information Sublime Financial can then estimate what loan amount our homebuyer can get.
Homebuyers in Dallas and the rest of Texas should know that being pre-qualified is not official. Sublime Financial hasn’t verified any financial records yet. The homebuyer’s credit score also hasn’t been pulled yet.
Pre-Approved Home Buying In Dallas
When a homebuyer is getting pre-approved in Dallas or anywhere else in the Texas market, it becomes official. At this point our homebuyer will fill out all the appropriate forms and we send them to the lenders. All the information will be verified from bank statements, credit score pulled and any other questions lenders may have are answered.
Why Get Pre-Approved In Dallas?
Why get pre-approved in the Dallas housing market? Because when our customer gets pre-approved they will receive a pre-approval letter from the lender. Being pre-approved can give a homebuyer and edge in a competitive market like North Texas. It lets the real estate agent know you’re serious and make you a potentially more desirable buyer than another home shopper who wants the same house, but hasn’t taken this step yet.
Contact us now at Sublime Financial so we can get you pre-qualified to give you the best chance possible to get the home of your dreams in this tough and competitive Texas housing market.
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