An Ideal Lending Solutions mortgage loan pre-approval is a detailed, high-resolution, picture of your credit worthiness verified by a full review of your income and assets by an Ideal Lending Solutions Mortgage Underwriter. All that’s left for final approval is a satisfactory appraisal, title search and no change in your financial condition prior to closing.
Going through the pre-approval process helps prevent last-minute issues arising throughout the loan process. A pre-approval from Ideal Lending puts you and the seller at ease knowing you are financially capable of following through with the purchase of the home.
Once you are pre-approved, you can make an offer with confidence. To summarize, here’s what you get with a pre-approval that you won’t get with a pre-qualification.
Knowing the specific loan amount you are approved for through a lender allows you to search within your price range.
With a pre-approval in hand, you have the first step in financing your home out of the way, allowing you to focus on finding the perfect home.
Once you find that perfect home, the pre-approval also reduces the possibility of losing the home due to obstacles that may arise throughout the loan process (that can be taken care of during the pre-approval process)
Your pre-approval lets the seller know you are financially capable of purchasing the home and following through on your offer. Being a pre-approved buyer in a multiple offer situation could make you stand out above the rest.
*A pre-approval does not constitute a loan commitment or guarantee of a loan. A pre-approval is subject to satisfactory appraisal, satisfactory title search, and no change in your financial condition.