Get a Mortgage Pre-Approval
- First step in the home buying process is determining how to pay, Mortgage or Cash.
- The traditional method that most buyers use is a mortgage. If this is your choice, then the first step is to obtain a pre-approval letter. We do not recommend using any of the big banks as they often do not meet the closing date and charge higher fees. American Airlines Credit Union members should check with their branch as they often have great rates and low fees. We recommend the following mortgage contacts:
Heather Cicirello, Commercial Bank of Texas
Robb McKinnon, Republic State Mortgage
Brooke Johannes, Supreme Lending
Kellen Vaughan, SMP Mortgage
- If paying cash, sellers will require a “POF” (Proof of Funds). This can be a bank statement or a letter from your bank. If using a statement, it is suggested to black out the account number.
How Much Home Can You Afford?
Banks and lenders use specific criteria to determine how much of a mortgage they’re willing to offer you. They look at your income, expenses, credit history and employment status, as well as the down payment you plan to make on a home. It may seem like a scary process, but it is actually straightforward. You can usually get a Mortgage Pre-Approval in a day. You’ll be glad that you did.
By knowing what you can afford, you can confidently shop within that price range.
Have questions about arranging financing? Please submit the form below or call/email me.