- 01. Who It's For
- 02. Benefits
- 03. Eligibility
Should I get pre-approved for a mortgage?
Pre-approval is an important step in the home buying process. If you are ready to put in an offer for your dream home, getting pre-approved (as opposed to just getting pre-qualified) is a good idea.
- Good credit score of 620 or higher
- Proof of income such as pay stubs and W2s
- Proof of assets such as bank and investment statements
- Employment verification and other documentation
What’s the difference between pre-qualification and pre-approval?
Getting pre-qualified will provide you an estimate of how much you can borrow, while a pre-approval will actually specify the loan amount you’re eligible for. One way to look at it is that pre-qualification is the first step in the loan application process while pre-approval is the next step.
Is a credit report required for pre-approval?
Yes. Mortgage pre-approval involves taking a deeper look into your finances and credit history.
How long does it take to get pre-approved?
It can take between 1-3 days, or up to 10 business days in some cases.
I got my pre-approval letter. How long is it good for?
Typically, the letter will be valid between 60 to 90 days. Reverification is an option if your circumstances change (a change in your income, for example).
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John is great at what he does, especially for first time homebuyers. He is willing to go the extra mile for his clients and will explain exactly what he's doing along the way. I'm so glad we were able to work with him and I highly recommend him.
Beyond grateful to have been referred to John G. right after getting our offer accepted on a home. We would not have been able to do it without him. He secured us a great rate, which was a game changer in our decision to purchase. It was our first home purchase, and he helped us navigate every single thing, and was extremely responsive and available to chat when we needed him. The entire escrow process was smoother and quicker than we could have ever hoped for. He was a pleasure to work with, and we hope to continue to work with him in the future.