One of the houses you viewed looks even better in person than its pictures and you have fallen madly in LOVE with it. You can see your dog running around the yard and your family coming for holiday dinners. You absolutely, positively must have this house!!
You call your lender who quickly takes your application and pulls your credit. Thirty minutes later the lender calls with the news that your credit score that you thought was in the 700s is actually 578. A credit score that does not meet the lender’s minimum requirement for loan approval.
I wish I could say that the above scenario has never happened to any of my potential buyers but it has. Buyers/borrowers think that getting preapproved for a loan is easy and back in 2005 and 2006 it was. But that’s not the case today. Lenders minimum requirements for both credit scores and down payments have increased.
Don’t waste your time and don’t risk someone else buying your dream home. Get preapproved for a loan before viewing Spring Texas houses for sale. If you need a recommendation for a Spring Texas lender, give us a call at 281.804.8626. We would be happy to refer you to local lenders that offer competitive interest rates, low fees, and who have a good record of closing loans on time.
Jill Wente is an incredible realtor! We lived in the area for about 3 years before taking the house-hunting plunge... read moreJill Wente is an incredible realtor! We lived in the area for about 3 years before taking the house-hunting plunge and truly could not have chosen a better realtor to work with. Jill is professional and patient, she is an incredible resource who is 100% there for her clients at all times. We had a lot of questions and didn't want to pay any closing costs or prepaid costs out of pocket - Jill is a Master Certified Negotiation Expert and it SHOWS. We got exactly what we wanted at the price we wanted AND had several bonuses thrown in, including appliances and gutters. She was there for inspections/walk-throughs and kept in contact with our builder's salesperson as well. If you want a strong realtor who is also pleasant to work with (which I've learned is rare), then Jill is the realtor for you!! read less