Pre-approval means your lender has contacted your employer, bank and other places to verify all claims of earnings and assets. In return, you receive a letter stating your mortgage approval for a certain amount and loan program (conventional, FHA, VA, etc). When we find a home you want to purchase this document is attached to the offer we draft for your signature.
Pre-approval can speed up and improve your chances of reaching an agreement with the seller. With a pre-approval expect more leverage when you make an offer as you offer the seller confidence that the sale is more likely close as your loan will likely not be a issue. Remember it costs the seller time and money if the property is taken off the market expecting to close only to have the sale to unwind because the buyers financing didn't work out.
Finally it’s very important for you and your buyers agent to know the amount you can borrow and the loan program you are approved for so you can focus on homes that you can actually purchase. We have partnered with the below mortgage professionals. You can work with any lender that you choose.
Educate. Communicate. Execute. That’s what separates the Gaylord-Hansen team from the rest!
We are the Gaylord-Hansen Team at loanDepot, a passionate team dedicated to delivering home financing the way it should be. We know you have many options when selecting a home loan, and we are dedicated to ensuring you receive the guidance you need. We educate you on your home loan options and ensure you make an extremely informed decision. We communicate throughout the process so you understand the plan and include weekly video updates to support vital timelines. We execute on planned dates with a team of highly-skilled professionals hired in key areas to meet an on-time closing.