If you have pre-approval for a mortgage, you know exactly what price range you can shop within for a home. Once you are pre-approved it makes it easier to get a real estate agent to work with you to find the home you want. Most real estate agents will not put a lot of effort into working with you if you are not pre-approved because they don’t know if you are really serious about buying or if you will get the mortgage from the lender.

Members can get pre-qualified for a first mortgage simply by calling or visiting us and providing some basic information. Pre-qualification does not guarantee that the mortgage will be approved, but it will give you an idea of whether you will qualify, based on your debt to income ratios, and your trade lines. Pre-approval requires that you (and/or the co-applicant) complete an application which will be submitted to our lenders. See similar questions...

If you have signed up for coverage within the last 4 weeks, the company may not have processed your information yet. If it has been more than four weeks, contact Benefits at 386-822-7058 or email dvega@stetson.edu so we may assist you. See similar questions...

If you are applying for a pre-approved mortgage, have following information ready to give to your Mortgage Intelligence Consultant: Have your employer give you a letter on company letterhead outlining your name, position, gross annual income, and number of years employed with the company. If you are self-employed, you will need three years financial statements, and tax returns (together with official assessment from Revenue Canada). See similar questions...

Once you apply for a pre-approved mortgage, you'll know how much you can reasonably borrow to buy a home. It tells you what your payments will be, and it defines a realistic price range for your financial situation. middot; If rates go down before you complete the purchase, you will automatically get the lower rate for the term you selected. This protection could save you a substantial amount of money if interest rates fluctuate while you're house shopping. See similar questions...

There certainly are. It is free, and by getting pre-approved, you know your financial capabilities before you enter into an offer situation. Just because you are pre-approved does not mean you can make an unconditional offer to purchase. You still have to get the actual mortgage, which is subject to a full check on your finances and a property appraisal. It may also be subject to CMHC approval if your mortgage is high-ratio (less than 25% down payment). See similar questions...

We will either give you a loan decision or contact you to gather any additional information required to process your approval within 24 hours of your online, phone or faxed application form is completed provided complete pre-approval or application information is submitted online two and a half hours before the end of normal business hours. Read more... See similar questions...

Yes! Southwestern Mortgage Company offers you a complete credit approval prior to finding a home to buy! We recommend you getting pre-approved for the following reasons. You know exactly what you can afford and have a pre-approval letter to submit to your realtor and your potential seller so that you can find the right property. B. You can usually negotiate a lower price since you are pre-approved and are similar to a cash buyer. See similar questions...

A buyer can be pre-approved after they have applied for a loan and had a credit report run. A pre-approval will have some exceptions, the fewer the exceptions the stronger the preapproval. Remember the preapproval is only as good as the institution issuing it. (Back to Top) See similar questions...

If you apply by phone, normally 15 minutes. If you apply online, normally 12-24 hours. Some applications may take slightly longer in cases where additional information is needed. No. Chattel Mortgage is a mobile home only lender, if there is land or acreage involved in your transaction, we are not the lender for you. CMI is not licensed to finance land or the combination of land and mobile home. See similar questions...

No, it is not a requirement. However, we recommend that you get Pre-Approved or Pre-Qualified from a lender. Any offer that you make will be taken more seriously. See similar questions...