Getting pre-qualified for a home loan is the very first step you should take in your homebuying journey. The next step is to get pre-approved. At HUNT Mortgage, our team works with all types of homebuyers with all different levels of experience, including first-time buyers. We’ll help you get you pre-qualified and pre-approved so you can have a competitive edge when you enter the house hunt.
Complete the submission form below to take your first step towards pre-approval!
The difference between Pre-Qualification and Pre-Approval
To get pre-qualified, you will need to provide us with information regarding your financial standing, including your income, debts, savings and credit history. As opposed to the pre-approval process, pre-qualification does not require documentation such as W2s and bank statements. Based on this assessment, we will determine a ballpark estimate of how large of a mortgage you are able to afford. Then, you can narrow down your home search to properties that will fit into your budget.
How to Get Pre-Approved With HUNT Mortgage
Getting pre-approved is a critical part of the home-buying process because it can provide you with piece of mind that you qualify for mortgage loan financing and will make your offer more appealing to sellers.
To be pre-approved, you will need to provide:
- proof of employment
- proof of assets
- permission for us to pull a credit report
- other documentation
This information will be used to underwrite your request for financing. However, keep in mind, this is not exactly the same thing as getting approved for a loan. A pre-approval will give you confidence that you can get approved for a loan once you find an acceptable property. Loan approval can be requested once you find your new home. And it will require verification of an acceptable purchase contract, confirmation of property condition and a property valuation to support your request for financing.
Our Mortgage Consultants are ready to help guide you through the process and ensure your offer stands out from the competition.
