As a consumer, you have a lot of choices when it comes to getting a mortgage pre-approval. You can go through your bank, go online, or go with a mortgage professional. We’ve found that most people tend to choose the option that’s most convenient. And we can’t fault that logic since all options appear to be the same otherwise – but they aren’t all the same.
Did you know that where you get your mortgage pre-approval matters?
The reality is that an online processing tool that pre-approves you in minutes will more than likely be inaccurate. At best, it may be accurate, but any real estate agents that see the pre-approval won’t know the guidelines that were used to grant it, which could hurt how competitive your offer is when you find the house you’d like to buy.
There are a tremendous amount of qualifying assets needed in the pre-approval process. That online tool can hand out a pre-approval without any real backing or, for that matter, the threat of damaging their own reputation.
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Mortgage Pre-Approval Through a Bank
What about my bank? Isn’t it more convenient to manage all of my finances in one place? In theory, it can be, but it’s still important to consider all of your options. When choosing a lender, we recommend that all prospective buyers get pre-approved by multiple lenders and use the following criteria to evaluate them:
- Compare rates and fees.
- Look through testimonials and reviews.
- Ask a trusted real estate agent about the lenders’ professional reputations.
- Evaluate communication levels.
Don’t worry, getting pre-approved by a lender does not mean you have to use them to get your mortgage and it won’t hurt your credit to get pre-approved by multiple sources.
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Pre-Approval Through a Local Lender
When you work with a reputable local lender, the pre-approval means what it says it means. There are no “take backsies” or surprises in the process. You get a real evaluation of what you can borrow, and you and your real estate agent can have that peace of mind through the entire process.
Plus, when you choose us for your pre-approval, you get the added benefit of our reputation for providing trustworthy pre-approvals in the Omaha metro. We’ve worked with hundreds of real estate agents and seller’s agents are more likely to steer their clients toward an offer that comes from a reputable source because the loan is less likely to fall through after the offer is accepted.
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Ready to get pre-approved for a loan? Our online application takes anywhere from 5-20 minutes to complete. Once submitted, we can have you pre-approved for a loan in just a few hours.