Certified HomeBuyer Pre-Approval Program
For new homebuyers looking to be taken seriously, getting pre-approved is the crucial first step in the homebuying process. Our Certified HomeBuyer Pre-Approval Letter is the strongest approval in the industry.
By becoming a Certified HomeBuyer, you enjoy all of its unique benefits and advantages! Our Certified HomeBuyer Pre-Approval Program verifies all of your income, assets, credit, etc., upfront, making your new Mortgage GUARANTEED. No more deals falling through and no more frustration on trying to get your offers accepted.
In today’s lending environment, getting pre-qualified just isn’t enough and basic pre-approvals come with no guarantees. Before you even contact a real estate agent, you should strongly consider getting pre-approved with a Certified HomeBuyer designation, which is only offered by The Family Mortgage Team at Leader One Financial. Note the distinct differences in the 3 main types of pre-approvals:
Pre-Qualification
A pre-qualification letter is not worth the paper it is written on. This would be where the mortgage lender gives its opinion on how much you can borrow based on the information you have provided. It is an informal analysis of their income, assets and debts. Credit may or may not be pulled. There is no actual verification of the information provided.
Pre-Approval
This is a much stronger endorsement of the prospects ability to obtain financing. It is typically completed in the following manner:
- Loan Application Is Completed
- Credit Is Pulled And Verified
- The file is then uploaded electronically through an automated approval system which renders an instant approval.
These systems are offered by the quasi governmental agencies Fannie Mae or Freddie Mac or a number of the larger national lenders have their own proprietary systems.
Certified HomeBuyer Pre-Approval
This is the strongest approval in the industry. The difference between this and a pre-approval is that the borrowers income, assets and debts are verified. The file is pre-underwritten upfront before you even have a contract. The following items will be validated:
- Satisfactory credit report obtained and approved
- Sufficient Income Documented to Qualify
- All Closing Funds Verified
- Whether The Present Home Needs To Be Sold
- Whether The Present Home Needs To Be Leased
- No Other Known Credit Issues Exist To Prevent Closing
The Certified HomeBuyer Advantage
- We will provide you with a “rock solid” approval letter, strengthening the purchase offer. You can tell the listing agent that your buyer has been pre-underwritten and can close in 15 days. That is negotiating from a position of strength.
- You will know for sure what you can afford, what the payment will be and how much cash will be necessary at closing, right up front.
- You will be in a position to get a better interest rate because we can close on the loan within a 15 day period. The lenders provide better pricing for shorter lock-in periods.
- Much less stress during the contract period. You have done all the heavy lifting for the mortgage up front which makes for a happy ending!
- If you are short on cash or struggling to get to a certain down payment threshold, we may be able to suggest some creative ways to get to the goal line, assuming we have some lead time.
- If there are credit score issues, we are experts in ways to improve your scores. This can make the difference between qualifying and not qualifying or taking a higher rate. If we have some time, simple strategies can make a big difference.
- You will not be wasting your time looking for a house you can’t qualify for. Times have changed and even if you are strong financially, it pays to know everything is OK on the front end.
With our Certified HomeBuyer Pre-Approval, you can rest assured you’re capable of closing on the loan quickly and efficiently. Contact Us To Receive Your Certified Mortgage Pre-Approval Today!
