Prequalifying for a mortgage is simple and easy. Preapproving is more in-depth and detailed and gives you more negotiating power when looking for a home. There’s no cost or obligation — know your options!
Need a prequalification statement to start looking for a house (or to write an offer)? We can help get that for you quickly.
Prequalification Definition
Prequalifying involves giving basic info to a loan officer and then you receive an opinion about what you qualify for and what programs and terms you should consider. If your situation is simple, you have good credit, and you are not trying to max out your purchasing power then prequalifying is all you need to do. You can be prequalified without your credit report being obtained but eventually, if you apply for a mortgage, the credit report will be obtained and must be satisfactory. To get a pre-qualification fill out the form below or contact us to help you with the process.
Preapproval Definition
Preapproving involves a credit pull, a review of your paystubs, W2s, etc, and a more in-depth review. If your situation is more complicated then you will probably want to get pre-approved. To get pre-approved for a new mortgage loan, click here for our easy, secure online application.