This Article Is About The Easy Online Mortgage Pre Approval Letter For Home Buyers
The mortgage industry has changed drastically since the Subprime Mortgage And Real Estate Meltdown of 2008. Brick and mortar offices are becoming more and more extinct. Online mortgage banking seems to be the new trend in the mortgage loan origination business nationwide. Most real estate agents will require buyers to get an easy online mortgage pre-approval letter for a loan when they are ready to shop for a home. In this article, we will discuss and cover the online mortgage process at Gustan Cho Associates.
Mortgage Pre Approval Letter Versus Pre Qualification
A pre-approval letter is different than a pre-qualification letter in the sense borrowers have already been pre-approved for a mortgage loan via the Fannie Mae automated underwriting system. A pre-qualification is when applicants explain to their loan officer what their income and debts are. Borrowers verbally tell loan officers their credit history, scores, income, debts, assets. To get issued a pre-approval letter is a very simple process. Wouldn’t it be even simpler if borrowers could save time by beginning the process online? An easy online mortgage pre-approval letter is more formal than a pre-qualification. With pre-approval, the mortgage company will run a credit check, and AUS. To get a mortgage pre-approval letter all borrowers need to do is apply online here at www.gustancho.com. Just click on the APPLY NOW icon on the top left section of the website and complete the 1003 secured online mortgage loan application. It is a short but thorough 5-page application and is fully secured and confidential. Please be as accurate as possible and answer all of the questions it asks in order to most quickly qualify. All of the information applicants state will need to be verified at a later date when starting the processing and underwriting process.
How To Get Easy Online Mortgage Pre Approval Letter With Gustan Cho Associates
Once applicants submitted their application for online mortgage pre-approval, a licensed loan officer will contact the borrower to discuss the application. If everything seems in order, the loan officer will submit it to our automated underwriting system for an automated loan approval. Once the loan officer fully qualifies borrowers, they will issue a mortgage pre-approval letter with the rate and terms of the loan. Borrowers who cannot get an automated underwriting system approval, no need to fear. The Team at Gustan Cho Associates are here to work with borrowers in resolving the issues. Our loan officers will work with applicants as to why they did not get approved. We will work together in solving them together as a team!
Things to Remember to Improve Approval Chances
Sometimes it is something as simple as paying down balances of credit cards so the debt ratio is better. Other times, we might have to help repair bad credit and improve credit score in order for applicants to get an official loan approval. That’s where the online mortgage pre-approval letter is so handy. Adds a blanket of convenience through what can be an overwhelming or confusing process. Everyone who applies for an online mortgage pre-approval letter will eventually get approved for a mortgage loan with Gustan Cho Associates. If you have terrible credit scores, then it might take a little time in repairing credit and improving scores. We are experts in helping borrowers boost their credit scores. We also help borrowers with quick fixes in repairing their credit.
Gustan Cho Associates specializes in helping borrowers with credit scores with under 600 credit scores qualify for mortgages. We have mortgage loan programs where a borrower with a credit score of 500 will qualify for a mortgage loan. Borrowers needing an online mortgage pre-approval letter, please contact us at 800-900-8569 or text us for a faster response. Or email us at gcho@gustancho.com. Or apply by clicking on the APPLY NOW icon.
Let me help you get your online mortgage pre-approval letter on its way today!
