A borrower will usually spend weeks or even months looking first for a neighborhood that suits them before spending a great deal of time searching for homes for sale in that neighborhood. Perhaps many weekend afternoons are used to visit open houses to get a better idea of what is available in the type of home you wish to own. Once you feel fairly certain about the type of home you wish to buy, the borrower usually selects a real estate agent to help find the home of your dreams. Once you come upon the home that suits your tastes and desires, you will draft an offer to purchase the home.

The professional realtor will draft your offer so that your interests and deposit are protected. After submitting the offer, your wait begins!

The seller must accept your offer and then you must have a loan application accepted by your institution. If all goes well and your offer is accepted, or after negotiations are acceptable to both buyer and seller, you as the borrower must now begin the loan application process.

Loan Application Process
After you have found the home of your dreams and had the offer accepted after a back and forth negotiations process, it is time to have a loan approved so that you can actually purchase this dream home. If your loan is not approved, then all of your efforts have gone to waste. Without the loan, you will lose the opportunity to buy the property.

How do you apply for the loan?

First of all meet with the loan officer and complete required forms that allow the officer to make inquiries regarding your income and debt history. An application deposit may also be required to cover the cost of these steps.

The loan officer usually provides a Good Faith Estimate (GFE) to you within three days. This will give you your estimated closing costs and an explanation of the function of these associated costs.

Your application continues to be processed while the loan officer orders an appraisal and title search on the home. Your employer will also be asked to verify your income statements.

Once all the information has been obtained the loan will be "approved", "denied" or "suspended" (pending further clarification or information).

The loan application process can be long and tedious and may need to be repeated through different loan officers and for different homes.

How About a Pre-Approved Mortgage?

By reversing the buying process and securing your loan first, you know your financial limitations, you remove the stress of finding the "perfect" home only to worry about whether or not you'll qualify, plus you have almost as much power with a pre-approved loan certificate as a cash buyer does!

All this with the Pre-Approved Mortgage Loan!

With the Pre-Approval Certificate you give the seller a GUARANTEE that you will get the loan. You have now removed two major obstacles to owning the home of your dreams.

Obstacle #1: Your purchase offer is taken seriously by the seller and accepted.
Obstacle #2: Your loan application has already been approved by your lender.

You could leave a bargaining table with an excellent chance of knowing that you will shortly be moving into your dream home.

Why does the Pre-Approval Certificate offer the seller so much credibility and you, the buyer greater ease?

• You have WRITTEN APPROVAL for a SPECIFIC LOAN AMOUNT.
• You have PEACE OF MIND knowing that you are already approved to buy the home for which you have submitted an offer.
• With MAXIMUM CREDIBILITY to your offer, the sellers know that your offer is a serious one due to the Pre-Approval Certificate. If multiple offers were to be submitted your offer will receive priority attention!

How Do I Get a Pre-Approval Certificate?
Find a company who offers this unique Pre-Approval process. Fill out the required paperwork and forms and then within a few days you should be issued your Pre-Approval Certificate!

You have simplified your buying process by eliminating these steps; the need for specific information on the property, the need for an up-front paid for appraisal and last but not least the anxious weeks waiting to see if you qualify for the loan!