Asked by David , Texas • Thu Jun 13, 2013
I will be buying a new home after selling my existing home. I have been planning on using the equity in my current home as down payment for the new home, once it actually is put on the market and sells.
I have tried to get pre-approved for a home mortgage, but each person I spoke with asked me if I had a specific property that I wanted pre-approval for.
I was able to get a pre-qualification letter, but really out of about 5 places I contacted I only heard back from 2.
The market in my area has such a fast turnover right now that as soon as a home in my price range comes on the market its pretty much gone making it difficult to have a "target" home in mind. Supposedly, I have a good credit rating and have been employed with the same company, even though it has changed ownership twice, for 7 years and have no real current debt to speak of.
Do I need to wait until I have a target home and the money from my sold home to get pre-approved or am I just talking to the wrong people?
Real Estate in Houston
Popular Categories in Houston
Email me when…
Success! Your email alert settings have been saved. Access all your email alerts in your My Trulia account anytime!