Mortgage Pre-Approval
Required by Savvy Home Buyers

Mortgage pre-approval is the starting point to owning your dream home! Doesn't it make sense to become a preferred home buyer before setting out on the journey of shopping for a house? Since serious sellers insist on pre-approved buyers, be savvy and insist on it too!

Make Mortgage Pre-Approval Your Priority

Ask Kate at

Hi, my name is Kate and I'm a retired mortgage broker. I know the importance of owning a home.

I should! I assisted thousands of borrowers with mortgage financing for over 20 years. I made pre-approval the top priority for each of my prospective home buyers.

Even so, I found many people avoided getting pre-approved for fear of rejection by the bank. That's why I always say don't let fear rob you of owning a home.

Or as our beloved American hero said...

Never let the fear of striking out get in your way. -- Babe Ruth

In other words, you'll never get a hit sitting on the bench.

Become a Preferred Home Buyer

Ask Kate about Buying a Home and Mortgage Pre-Approval

You might be wondering how the pre-approval process works. It's actually pretty simple.

During pre-approval, you'll be walked through many of the same steps of the formal approval process, including filling out your mortgage application and submitting required paperwork.

Your loan originator will also order your credit report and turn in your package to the underwriter, the same person who grants final loan approval.

The underwriter may have questions or ask you for additional paperwork. These are called outstanding conditions. In order to get a substantial pre-approval, these conditions need to be fully satisfied.

This process eliminates surprises and makes your offer more attractive to sellers. No wonder savvy home buyers appreciate pre-approval!

Three Cs of Mortgage Pre-Approval... Cash, Credit and Collateral

Home buyers often ask what underwriters look for. Getting pre-approved hinges on these three Cs: cash, credit, and collateral.

Cash includes your savings, income, and down payment.

Tip: Keep your bank statements, paystubs, and tax records as the time to buy a house is approaching.

Credit considers your history of paying bills and how much you owe.

Tip: Ask for a copy of your credit report. Review it for accuracy because mistakes in your history could cost you an approval.

Collateral considers the price range of homes that interest you.

Tip: It's easier to get a mortgage if the house is going to be your primary residence.

Completing the Pre-Approval Process

A lender might need additional information before your mortgage pre-approval is completed. No two prospective home buyers are alike. So include an explanation if something is out of the ordinary, for example, in your job history or on your credit report.

First impressions are lasting. Be complete with your paperwork requested by your loan originator.

Tip: Be proactive! Use my Mortgage Planner to prepare your paperwork.

Once the process is finished, ask for a certificate of pre-approval. The letter will state the approved purchase price and required down payment. It should also verify the loan program, current interest rate, and proposed monthly payment.

Tip: Sellers often ask for a copy of your certificate. Keep the original for your records.

Peace of Mind With Mortgage Pre-Approval Certificates

There's nothing like a pre-approval certificate to give both a seller and home buyer peace of mind. It makes a lot of sense that sellers welcome home buyers who have already been pre-approved.

Take the first step. Start shopping for a lender to begin the pre-approval process. Learn how at Compare Mortgage Rates and Lenders in Six Steps. After all, it's your mortgage and your home. No one cares more about them than you!

Turbo Tips & Techniques for Getting Your Best Mortgage

Stay current with Today's Mortgage Rates and Trends

Become an expert on the new Good Faith Estimate Form

How to Reduce Refinancing Costs

Learn how savvy shoppers Compare Refinance Fees

Decide how much you can Afford in Monthly House Payments

Insist on Mortgage Pre-Approval

How to Cure Mortgage Approval Hiccups

How to successfully Lock Mortgage Rates

More Turbo Tips & Techniques

The Mortgage Freedom Project by Kate Ford

Learn how to get out of debt and pay off your mortgage early while beating the bank at its own game.

Learn how to pay off your mortgage early and get out of debt!

Suzana writes me after reading The Mortgage Freedom Project...

I'm following your magical steps in hopes of getting my financial situation under control. Thanks for your help!

Go here if you also want to get out of debt and pay off your mortgage early without sacrificing your lifestyle!

Available in Paperback and Kindle format.

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The information you obtain at this site is not, nor is it intended to be, a substitute for personalized professional advice. All numbers are estimated and are for illustrative purposes. Rates, loan programs, and guidelines are published for convenience only, vary with no advance warning, are not guaranteed, and should not be relied upon. You are encouraged to consult a lender for a current rate quote and seek advice from qualified professionals, for example, attorneys, accountants, financial planners, housing counselors, mortgage lenders, and/or real estate agents, regarding your individual situation. Comments and opinions found here are not necessarily those of and its owners.
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Learn More About Your Dream Team

How to Buy a House Part 1 Meet your real estate agent and save yourself heartache and headache.

How to Buy a House Part 2 Meet your mortgage lender - Expect more than quoting the lowest rate or taking an application.

Check out List of Mortgage Companies, a local lender directory.

How to Get a Mortgage Part 3 Meet your home inspector and avoid buying a money pit.

How to Get a Mortgage Part 4 Meet your real estate appraiser - Does an appraisal assures you of a good deal?

How to Get a Mortgage Part 5 Meet your title insurance companies for coverage resulting in peace of mind.

How to Get a Mortgage Part 6 Meet your homeowners insurance agent because there is more to it than the cheapest quote.

How to Get a Mortgage Part 7 Meet your escrow and closing disclosure form, the guardian of your real estate transactions.

Title, Abstract Services and Escrow Agents, a mortgage service provider directory.

How to Buy a House Questions and Answers II.

How to Buy a House Questions and Answers I.