It is very important that you get pre-approved for a mortgage in Texas even before you start house-hunting. A pre-approval is a type of statement from the lender showing that they have verified your documents, income, credit score and other factors and can confirm that you are eligible to get a certain amount of money as financing for the home you want to buy.
Daily Texas Mortgage Rates for 1.21.22
30 Day Range 2.5% - 3.784%
30 Day Range 2.25% - 2.966%
30 Day Range 2.5% - 3.846%
30 Day Range 2.942% - 3.57%
*Calculated from actual locked rates with consumers across more than one-third of all mortgage transactions closed nationwide
Do not confuse it with a pre-qualification. The latter is a less weighty indication of how much you can afford. But a pre-approval shows that the lender is, in fact, willing to give you the money.
A Texas mortgage pre-approval will show that you can get the money required to buy the home once you agree on the price with the seller. That usually makes seller comfortable to negotiate with you. In fact, if you make an offer using a Texas pre-approval letter you just might convince the seller to take the property off the market and reserve it for you. So, before you approach a real estate agent and start house hunting, get pre-approved first. Moreira Team can help you with that. We have a simple online system that you can use to get pre-approved for a Texas mortgage loan.
What Will You Need to Get Pre-approved for a Mortgage in Texas?
Your two most recent pay stubs as proof of income received from your employment.
Your two most recent W-2s to show your wage, salary and tax information.
Two most recent bank statements to show that you have the stated down payment.
If you have these documents ready, you can go ahead and apply for a pre-approval. Alternatively, contact us, and we will do that for you.
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