Get Pre-Approved

 

 

 

 

 

 

 

 

 

What Is a Mortgage Pre-Approval?

 

A Pre-Approval Certification Letter states the amount a lender thinks you’ll be able to borrow based on your income and credit profile without any actual documentation. 

 

However, mortgage lending standards have tightened since the housing crisis, and all mortgage loans now require full documentation and verification of income and assets—so most sellers will only accept an offer from a buyer with a full pre-approval letter based on verified information.

Your home hunt will benefit with a pre-approval certificate for two main reasons:

  • First, you’ll have completed the credit check and paperwork requirements for a mortgage, so you’ll know your ability to finalize a home purchase. If the lender finds a problem with your creditor an error on your credit report, you’ll have time to fix it before making an offer.

  • Second, since your documentation will already be in place, a mortgage pre-approval certificate will likely speed up the process once you make an offer.

 

 

The Benefits of Being Pre-Approved

 

  • Knowing the range of affordability greatly aides in your new home search.

  • Shows you are a serious buyer

  • Having a pre-approval certificate gives you the added leverage when buying a home. 

  • Makes your offer more attractive

  • Sellers know that a pre-approval certificate means you are ready to buy

 

 

Get Pre-Approved for free- Before you shop for your new home.