Texas Residential Mortgage

When you're in the market for a residential mortgage loan in Texas, you'll want to start with a pre-qualification or pre-approval. This first step involves speaking with a mortgage consultant to learn about the mortgage application process and decide what type of loan you desire, as well as how much you want to borrow. Then, you'll want to be pre-qualified or pre-approved for a Texas mortgage.

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To pre-qualify you for a residential mortgage, your lender will go over information you provide on the phone, online, or in person. This information can include such things as basic credit, income, and debt details. For a pre-qualification, it is not necessary to obtain a credit report for the borrower. The lender basically just uses the information provided by the borrower to estimate a maximum loan amount.

The Texas Residential Mortgage Pre-approval Process

A pre-approval is a bit different from a pre-qualification. For a pre-approval, a Texas mortgage lender will likely need to run a credit report and verify certain debt and income information. It may also be necessary to complete an application form as part of the pre-approval process. Once the pre-approval is complete, the lender typically provides the borrower with a letter stating that he or she has been pre-approved for a residential mortgage.

Learn more about pre-qualification and pre-approval for residential mortgages. Let the experts at Southern Lending Corporation help you get started on obtaining the loan you need. We can help make your dreams come true! Contact us toll-free at 1-866-614-2700 ext. 100 or e-mail us at info@southernlendingcorp.com.