Prequalify or Preapprove?

Prequalifying for a mortgage is simple and easy!  Preapproving is more in depth and detailed.  There’s no cost or obligation — know your options!

Prequalifying involves giving basic info to a loan officer and then you receive an opinion about what you qualify for and what programs and terms you should consider.  If your situation is simple, you have good credit, and you are not trying to max out your purchasing power than prequalifying is all you need to do.  You can be prequalified without your credit report being obtained but eventually, if you apply for a mortgage, the credit report will be obtained and must be satisfactory.

If your situation is more complicated then you will probably want to get pre-approved which means pulling credit and sharing things like your most recent paystub, W2s, etc.

If you want to get prequalified or preapproved for a mortgage, please choose one of the options below:
— Contact us by phone at 603 225-5626 to arrange a phone interview
— Contact us by phone or e-mail to set an appointment for a person to person meeting.  Concord@MerrimackMortgage.com
–Print a copy of the loan application, complete and return to us by mail or fax (225-5676) or upload it via this secure link. We will contact you as soon as we receive the application to confirm its receipt.
–Click this link to go to our secure on-line application which authorizes us to obtain your credit report.
Tips for using the online application:
1) you do need to create a user name and password for security of your personal info
2) it will ask you for a property address – you can put in the zip code of the town/city you are most likely to purchase in
3) it will ask you for a sales price – if you are not sure, just guess.  We will work it out together!
4) it will ask you for a loan program – if you are not sure, just guess.  We will provide you with all your options.
5) don’t worry about non-required fields where you are not sure how to answer.
6) you must complete all the steps before we can retrieve your application

Don’t want your credit pulled?  Don’t want to make a user name or password?  Complete our 5-minute online pre-qualification form now and we will send you estimates to review. Lets get the conversation started!
(You can complete the form in under 2 minutes!)

 

Leave a Reply

Your email address will not be published. Required fields are marked *