Yes, applying for a pre-approval loan before you find a home may be the best thing you could do! If you apply for your mortgage now, we'll issue a pre-approval subject to you finding the perfect home along with other standard conditions. You can use the pre-approval letter to assure real estate brokers and sellers that you are a qualified buyer. Having a pre-approval for a mortgage may give you more weight to any offer to purchase that you make.
When you find the perfect home, you'll simply call your Mortgage Loan Officer to complete your application. You'll have an opportunity to lock in our great rates and fees then and we'll complete the processing of your request.
Sometimes you will hear the term pre-qualified used with a mortgage. Pre-approval, pre-qualification simply lets you know a ball park figure of how much you can comforably borrow. This helps get you in the right price range when looking at homes.
If you're seriously thinking about buying a home this year, get pre-qualified and keep an eye on interest rates. You can sign up for rate watch today and get our mortgages emailed to you daily. Or if you prefer, you set specific criteria for the rate you want and we'll email you when that criteria is met.