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Get Pre-approved FAQs
Yes. We'll perform a hard credit pull once you begin the formal mortgage application process or if you lock in a rate. You'll be notified before this occurs.
If you prefer to explore our rates and loan options, our pre-approval process takes as little as 3 minutes and has no impact on your credit score. Get started on your pre-approval
Yes. Pre-approval letters are personalized and include editable fields for property type, city, state, purchase price, and down payment amount. They're a good tool to use as leverage with sellers while house hunting.
It’s a good idea to get pre-approved so you know how much you can afford and set a realistic budget. Plus, a letter from us gives you more leverage when house-hunting, putting you in a stronger negotiating position when you’re ready to make an offer.
You can get pre-approved completely online. Fill out our online application, and if you're approved, you'll be able to access your pre-approval letter within minutes.
What you should know about getting pre-approved with us:
We'll check your credit. During pre-approval we only perform a soft credit check, which does not affect your score. Later on in the process we may perform a hard credit check (with your permission, of course). Keep in mind, any other home loan credit checks within 45 days are treated as one inquiry, so multiple inquiries during this time won't additionally impact your score.
There are no fees or documents needed to get pre-approved. We'll only ask for documents if you want to move forward with your application.
After pre-approval, you should avoid making any large purchases or taking on any new debt (i.e. an auto loan, etc.) that would affect your financial situation.
Our pre-approval lasts 90 days. This is to ensure your financial situation stays up to date.
Yes, no assistance needed. You can edit your pre-approval letters online to include addresses and amounts up to your approved threshold.
Once you've been pre-approved, you'll be able to personalize your letter to use when making offers on homes. Showing this to sellers can put you in a stronger negotiating position when it's time to make an offer.
A soft credit pull is more informal, often self-reported online or over the phone, and never impacts your credit score. This can usually provide a general idea of how much home you can afford.
A hard credit pull, however, is more intensive, creating a report from information gathered from Experian, Equifax, and TransUnion to provide a clearer picture on your creditworthiness. Unlike the soft credit pull, the hard credit pull will be reported to the credit bureaus and may cause your credit score to drop. Once a lender has performed a hard credit pull, you traditionally have 45 days to do other hard credit pulls at other lenders without them having additional impact on your credit.