Mortgage Pre Approved Cape Coral Fl

Get Pre Approved Today!

What is Mortgage Pre-approval?

Though there are several different definitions of "pre-approval" used in the mortgage industry, a pre-approval generally is a written statement from a lender stating the lender’s preliminary determination that a borrower would qualify for a particular loan amount under that lender's guidelines.

The determination and loan amount are based on income and credit information. Most pre-approval letters are good for 60 to 90 days.

We work hand in hand with Security National Mortgage. Please click the link to the right to fill out thier online application.

Get Pre-approval with our Leaders?

Weichert Realtors Gulf Coast Group connects you with a trusted lender who will conduct a preliminary review to determine your loan qualifications based on their guidelines. Steps are as follows:

Complete a short online questionnaire that asks for information including income, credit score and monthly debt.

After completing the questionnaire, you will see an estimated pre-approval amount based on the information you provided.

To continue the process of requesting a pre-approval letter, a lender will require more details, such as pulling your credit report (at your request).

If you meet the lender’s guidelines based on preliminary review of your responses to the questionnaire and your credit report, you will receive an online pre-approval letter.

Does Pre-approval Guarantee a Loan?

No. Even if you receive a pre-approval letter from a lender, you may not get a loan from a lender and you are not guaranteed a specific rate or loan term.

Regardless of pre-approval, a lender may require additional income and asset verification, as well as the satisfaction of other conditions, before extending you a loan.

Pre-approval letters are subject to modification or cancellation if your financial situation or other conditions change.

A pre-approval letter is not an offer to lend, a commitment to make a loan, or a guarantee of specific rates or terms.

This online questionnaire is not an application for credit. Also, having a pre-approval letter does not guarantee that an offer you make on a home will be accepted by a seller.

Why Should You Get Pre-approved?

There are many reasons why you should get pre-approved. The most important reason is that you will get an accurate idea of how much home you can afford. This can help to target your home search and ensure you only look at houses that are truly in your price range.

A pre-approval letter also helps you prove to real estate agents and sellers that you’re a credible buyer and able to act fast when you find the home you want to buy. Some sellers might even require buyers to submit a pre-approval letter with their offers, though having a pre-approval letter does not guarantee that your offer will be accepted by a seller.

A pre-approval letter can make you stand out in a competitive real estate market. If you make an offer on a house without a pre-approval, your offer may not be taken as seriously as an offer from another person with a pre-approval.