The Top Three Reasons to Get Pre-Approved:
1) POF (proof of funds) will be required with most offers. Pre-approval letters serve as a good indication of your creditworthiness and can be used as your POF when making offers. (Cash offer only need a current bank statement)
2) Buyer agents are asked by their governing boards and brokerages to get buyers pre-approved before showing them MLS listed homes. This is a courtesy to the sellers, who are trusting their homes to strangers.
3) The whole process is free and should only take a few minutes.
Choosing a lender is the first big step toward buying a home. It is always wise to shop around for the best rates, terms, and closing track record. The following lenders have been recommended by clients and peers:
Highlands Mortgage: We have worked with Rae Lyn Bowyer on several transactions and she has always closed on time. Highland is ideal for clients with good credit and banking history who are buying a traditional home with an FHA or Conventional loan.
Keller Mortgage: The ZeroPlus program offers Zero Origination Fee, Zero Lender Fee, PLUS $1,000 at Closing & A Low Rate!
Merit Mortgage: Clint Cowan comes highly recommended by other agents in our office. Merit Mortgage offers many different programs, including VA, FHA, and more. They can work with lower credit scores and have programs available for new construction and mobile homes.
Pilgrim Mortgage: We have worked with Brent Patterson in the past. Pilgrim offers many different programs, including USDA, VA, FHA, and more. They have programs available for lower credit scores.
Ask Your Bank
Your personal bank or credit union may also offer competitive rates & terms!