Signature Mortgage can help you get pre-approved
and arm you with a powerful home buying tool.
Benefits of Pre-Approval
Determine your affordable price range
Shows the seller and the sellers agent that you are a serious buyer
Makes your offer more attractive to the sellers.
What is a pre-approval?
A pre-approval is a formalized process where a lender reviews the buyer’s credit, income, and assets to determine whether that buyer will qualify for a loan and the maximum loan amount and maximum purchase price for which the buyer qualifies. It’s similar to a loan approval but faster and not as intensive.
What is involved?
Similar to getting a loan approval, you need to provide income documents such as paystubs and W-2s as well as asset documents such as bank statements showing the funds for the down payment and closing fees. In addition, we’ll take a look at your credit report to ensure the minimum credit standards are met and to calculate the debt-to-income ratios. Once all the documents are reviewed and the numbers calculated, our Mortgage Banker will determine whether or not you qualify for a loan and will issue you a pre-approval certificate that shows the maximum loan amount and purchase price. You can provide a copy of this letter to your real estate agent as well as the seller’s agent.
Remember, there's no cost or obligation at Signature Mortgage to get pre-approved.
To get started, apply online or call us toll free at 1-800-241-1996 to speak with a home purchase specialist today.
* Rate displayed assumes that you are buying or refinancing an owner-occupied single family home, all borrowers have credit scores of 740 or higher, debt-to-income ratios of 35% or lower, asset and reserve requirements are met, and your property has a loan-to-value of 80% or less. The Annual Percentage Rate (APR) is based on a loan amount of $200,000 and may include up to 3 points. (Points include any origination, discount and lender fees.) On adjustable-rate loans, interest rates are subject to potential increases over the life of the loan, once the initial fixed-rate period expires.
