Home loan pre-approval allows you to bid at auctions with confidence and shop for your new home with peace of mind.
If you are thinking of buying a property, a home loan pre-approval is definitely worth considering regardless of how much you are thinking of borrowing. A home loan pre-approval will give you clear guide on how much money you have to work with putting you in a stronger position to negotiate with a vendor or bid at auction.
Take a moment to call us and speak with an experienced Loan Officer today.
Before you start shopping for a home, you need to work with a lender to get pre-approved for a mortgage. Pre-approval is basically a promise from the lender that you’re qualified to borrow up to a certain amount of money at a specific interest rate. This promise is subject to a property appraisal and other conditions. In the pre-approval process, the lender looks closely at your credit and verifies your income (as opposed to pre-qualification, for which your information is not verified). The lender then gives you a pre-approval letter, which says that your loan will be approved once you make a purchase offer on a home, and once you submit the following documents – the purchase contract, the preliminary title information, the appraisal, and your income and asset documentation. Pre-approval means that the lender is confident that you can make the necessary down payment and that your income is sufficient to cover the mortgage payments.
There are a number of different types of home loan pre-approval provided by lenders, from a simple short form pre-approval through to a formal written pre-approval.
To be sure of your borrowing capacity you will need to secure a formal pre-approval. It is the only way to get the pre-approval you need to negotiate with confidence or bid at auction under almost the same conditions as a cash contract.
A Secure Funding Group mortgage broker will help you secure home loan pre-approval so you can shop for your new home with confidence.
Call our office for more details regarding the above information and find out how one of our Loan Officers can help you with a loan that matches your unique needs.
With over 10 years of Mortgage Experience, Diego’s leadership and vision has made Secure Funding Group a leader within the local community. He serves as the Branch Sales Manager in the Chula Vista office and is also the head of the Legal Department as acting broker. Diego is pursuing a law degree to further enhance his skills and abilities as a Real Estate & Mortgage Professional.
NMLS ID 347520
A mortgage professional since 2000, Omar brings vast experience in specialty mortgage lending and a strong background in underwriting. Having worked for several of the largest Retail Mortgage Lenders in the Nation in the same capacities, Omar’s knowledge is instrumental as head of Operations for Secure Funding Group.
NMLS ID 347528
A mortgage professional since 2001, Mario has excelled as one of the premier and most trusted Loan Officers in the Imperial Valley. He currently holds the position of Branch Manager for Secure Funding Group at the Calexico Branch. Mario’s experience was gained early in his career having worked at two of the Nation’s most prolific and profitable Mortgage Banks.
NMLS ID 347541