Mortgage pre-approval is a written guarantee from a loan officer that you will be able to receive a mortgage loan up to a certain amount. It can be easily obtained at no cost and no obligation.
There are several ways to get pre-approved: over the phone (usually the easiest and quickest way), in-person, via e-mail, or by visiting your lender's website
Getting pre-approved for a mortgage before you begin your home-hunting process will give you a number of important benefits:
You look at the "right" homes. There is probably nothing so discouraging to a buyer than getting excited about a particular home, only to discover that it is completely out of his or her price range. For this reason, it is absolutely necessary that you determine the price range of affordable homes before you begin your search process. It would be extremely counterproductive to view homes you could not afford.
You negotiate from the strongest position possible. It's not uncommon for a home seller to receive multiple offers on their property. Let's look at this from the seller's perspective for a moment. If you were the seller and had multiple offers on your property, all things being equal, would you accept the one with certificate of financing approval or the one that was still conditional on financing? The answer is obvious. Because you are pre-approved, you become an "all cash" buyer in the eyes of the seller which puts you in a much greater bargaining position.
You get the best rates and lowest closing costs. As a prospective purchaser, it makes all the more sense to start the financing early on so you can get a firm handle on your interest rate and estimate of points and closing costs. Pre-approval will provide you with insurance against rising interest rates in the market place. With a pre-approved mortgage, if rates go up, you still get the pre-approved rate, but if rates go down, you take advantage of the lower rate. You will receive a "Good Faith Estimate" of closing costs at the time of pre-approval.
Should you decide to get pre-approved, simply submit the form below. In the "Comments" section, specify that you are requesting a mortgage pre-approval. Also, please leave your phone number so one of our affiliated loan specialists can contact you to begin locating the very best mortgage rate and lowest closing costs possible.
Use the form below to contact Terry Kildal directly via email. Be sure to include your contact information and a message detailing your request so your needs can be attended to as quickly as possible. Fields marked with a "*" are required.
BEFORE SUBMITTING THIS FORM
Please ensure your contact information is correct and your request is specified in the "Comments" section.