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Get Pre-Approved For the Home of Your Dreams!
- Get approved within four business hours
- Available for phone calls within 90 minutes
- Access to dozens of lenders
- Understand what you can afford
- Gain confidence when placing an offer
- Get the banks competing for your business
Why should you choose GLM Mortgage Group?
“We Get You a Fast “YES”at the Sharpest Rate…Guaranteed”
What Is a Pre-Approved
Many realtors and real estate agents like to work with buyers who have been pre-approved for a loan. A pre-approved mortgage has become more popular in recent years as a way to show realtors and property sellers that a buyer is not only mentally prepared but also financially able to make the purchase. It has become common for many home buyers to apply for and obtain pre-approval before they begin shopping for a home – in fact, it’s prudent to do so. Getting pre-approved for a mortgage as your first step is beneficial for many reasons. First, it provides a better sense of the amount you’ll be able to borrow and what your price range will be. This, in turn, grants you more confidence when making an offer and provides sellers with more confidence when accepting an offer.
Obtaining pre-approval for a mortgage is similar to the initial stages of obtaining a traditional mortgage. A lender will look at your financial information, including your income, debt-to-income ratio, financial history, credit score and a number of other financial indicators. After analyzing your information, the lender will present you with a pre-approval letter with the amount they’re willing to loan. These letters generally expire after a set period, but can last anywhere between 30 and 120 days. Obtaining an offer from a lender doesn’t mean you’re required to use that lender for your loan. It’s a good idea to shop around to get the very best offer for you. Before beginning the pre-approval process, start by gathering all of your financial information, including tax statements, pay stubs, investment history and recent bank statements. Lenders will use all of these to help determine the pre-approval amount.
Remember that you may obtain quotes from more than one lender. Always keep an eye on your credit score. In the very early stages of buying a home, you should investigate your credit rating and find out how to improve it, if necessary. A higher credit score often helps secure a larger pre-approved amount. Once you have a pre-approved mortgage, your home buying experience will become a little easier.
Tools & Resources For Success!
Good Credit Guide
GLM will help you to obtain and maintain good
credit, which is critical for obtaining a mortgage.
Our free Guide to Obtaining Good Credit
outlines the steps required to quickly improve
When searching for a home, the first step is to determine what you can comfortably afford. Our free, easy-to-use mortgage calculator will help you determine the amount of your mortgage payments.
Posted Mortgage Rates
GLM Mortgage Group always posts the best rates available anywhere. Our mortgage brokers have access to dozens of lenders, we’re able to find the best mortgage product and rate to match your unique needs.