A Pre-approval is more secure for both buyer and seller. A pre-approval can be produced in two basic ways. One way is an electronic process by the broker or lender and the second way is when the underwriting department issues a "conditional loan approval." Because a pre-approval carries a higher degree of certainty, buyers and sellers are more confident when depending upon a pre-approval.
The first method to receive a pre-approval is to complete a residential loan application, form 1003. To save time, authorize a credit review so the lender can import the liabilities that appear on your credit report (you need not complete the liabilities section). Once completed the MLO or broker will submit your application and credit data through an electronic process (DU or LP) for the electronic coded results needed to produce your pre-approval.
The second and best method is when your pre-approval has been issued by the underwriting department of a mortgage lender. In order to receive an underwriting conditional loan approval, you will need to provide supporting documentation for the income, assets, employment and other sections that appear on the residential loan application form 1003.
Steps for pre-approval - Purchase or Refinance
Complete online application when you are ready to Apply: Online Application
IMPORTANT NOTE - Your digital signature on the Online Loan Application gives us authorization to evaluate your credit.
When you are ready to Apply for mortgage finance and receive a preapproval, please fill out this application, and along with all Documents needed on our Document Checklist, ,once completed, documents may be scanned and sent via our Secure Portal :
IMPORTANT NOTE: Personal documents should not be sent using regular email always use our Secure Portal .
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Mortgage Loan Programs
For Investors: No Income / No Ratio - No 4506 or Tax Returns
Purchase & Cash out refinances / Interest only - Okay
Up to $1.5 Million
For Primary Residence: FHA/VA, USDA, and Conventional loan programs. Up to 100% financing - purchase and refinance.
For Commercial: Min $500,000 loan amount, purchase & refinance. Retail, office, specialty, multi-family, medical and misc.