The benefits of getting a pre-approval.."Packaged to Purchase"

By obtaining a pre-approval, you can speed up the process of securing  a mortgage loan drastically. When you get pre-approved for a loan, you  will generally have a lender review your income and credit information  in advance and then they will provide a scribed statement that denotes  how much you would be eligible to borrow.

The pre-approval process  takes only about 24 hours when you can produce all the appropriate  proof of income and other required documents readily available. There  are many benefits that you can obtain from a mortgage pre-approval. Here  are a few points that would help you understand the benefits better.

  • Boosted  credibility with the seller: It is very important for a seller to  consider a buyer who buying a home to be affordable and that that buyer  is quite sure about his purchase. The seller will understand that you  can truly afford the property and that you are quite serious about  making the purchase.
  • Greater flexibility for taking action: With  your finances already evaluated during pre-approval, you can take  immediate action when you find the home you want to purchase. By getting  pre-approved, you already have the ball rolling.
  • The "Packaged to Purchas" advantage  over other buyers: If you are up against other prospective home buyers  who have not been pre-qualified for a loan, then your pre-approval may  just what you need to gain the upper hand.  Less conditions and waiting time to fulfill obligations give greater consideration to your offer to purchase.

Let's Get Started!

 To Speak directly about your specific situation and requirements, please contact me directly.   Alternatively, you can get the ball rolling by applying directly here on our website.  Please enter as much information as you can, agree to the terms and send.  It comes to me directly giving me the opportunity to review and have a more informed discussion with you.  The application process also provides us with a "soft touch" of your credit bureau without affecting your rating but allowing us to paint a better picture of your specific situation. Download our "MOPOLO" App here  which provides access to Mortgage Alliances many tools including creating your profile, Credit applications, current mortgage rates, financial calculators, know your credit score every month, and important updates on the market.    

Mortgage Pre-Approval


Does a pre-approval guarantee a mortgage loan?

The Mortgage Pre-approval amount is the maximum you may get.  It does not  guarantee that you'll get a mortgage loan for that amount.  The approved  mortgage amount from your Mortgage Company will depend on the value of your home and the amount of  your down payment.  It may be a good idea to also look at properties in a  lower price range so that you don’t stretch your budget to its limit. 


Once Pre-Approved, what do i know & learn?

 With a pre-approval, you can:

  • Know the maximum amount of a mortgage you could qualify for.
  • Estimate your mortgage payments.  This pulls we want and what we can reasonably afford together so you have reasonable expectations.
  • Lock in an interest rate for 60 to 120 days, depending on the lender.  If your serious about buying in a specific period of time, this can be a great benefit in a volatile market.


Why Should I get a Pre-Approved Mortgage?

There are several benefits to getting a Pre-Approval before you start searching for your next home.

  • First off, it will be one of the very first questions a Real Estate Agent will ask you.  If they are schedulling time for you, they want to know your "Packaged to Purchase".
  • Your mortgage and rate will be secured for up to 120 days. Even if rates go up, yours won’t.
  • You’ll know what you can afford, helping to narrow down the search process.
  • Pre-approval  will make you look like a more serious buyer, helping you find a good  realtor and can give you negotiating power with the home seller.
  • A mortgage pre-approval will make the final closing faster since you already have most of the work completed.

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