Get Pre-Approved for a Mortgage with Smart Mortgage Centers

When shopping for a home it is extremely important to be armed with a mortgage pre-approval letter from a reputable mortgage lender. This says to the seller that you are serious about purchasing a property, and will more than likely be able to obtain financing. In today's market many sellers are anxious to sell quickly, and anything you can do to show the process will go smoothly will strengthen your offer. Call a Smart Mortgage Centers mortgage consultant at 888-416-0920 to get pre-approved today.

What is involved in a mortgage pre-approval?

Your Smart Mortgage Centers mortgage consultant can get you pre-approved quickly. He or she will gather some information about your financial picture (including obtaining your credit report) and the home you plan to purchase. It is ok if you have not identified a property yet, the mortgage pre-approval can be based on approximate value of the homes you are considering. Once you do select a home to make an offer on the pre-approval can be made specific to that property. This is important because you may be approved for more than your offer amount, and you may not want to disclose that full amount during the offer negotiation.

Pre-Approval vs. Pre-Qualification

A mortgage pre-qualification is typically based on less information than a pre-approval. This makes it carry considerably less weight than a mortgage pre-approval. Essentially a pre-qualification says that based on the information from by the borrower the lender thinks they will qualify for a mortgage loan. Getting pre-approved for a mortgage means that the lender is saying after looking into the income, assets, liabilities, credit score, loan amount, and other factors they are confident the borrower should be approved for the loan, pending the appraisal and title search which will be done on the property. A pre-approval is not a commitment to lend - all information will be verified during the underwriting process.

To begin the mortgage pre-approval process call 888-416-0920 or Get Started Online.