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Pre-Approval Program
Wouldn't it be great if you could do all of the financing paperwork and be fully approved for your new mortgage, before you started searching for your dream house? You can!
We have designed a fantastic value added program for those people who are preparing for their next house purchase, called the Premier Pre-Approval program. Basically, this program allows upcoming buyers to submit a complete loan application, before a purchase contract is signed for their new home.
Your loan will be submitted for the maximum loan amount that our initial calculations show that you qualify for, or if you already know how much you would like to borrow, we will submit that amount. Premier Lending will then process, underwrite, and fully approve / deny / or approve with conditions your loan request, in a very short time frame (usually in less than one week, from the time the paperwork is received).
The paperwork that you submit is exactly the same as if you already had a purchase contract (refer to information needed for a loan application). Once you find a house, you can close in less than ten days (all we need is a satisfactory appraisal).
A key benefit of this program is that it gives buyers greater negotiating leverage with the seller. A sellers greatest fear is that they will accept a Purchase Contract from a buyer, who is then turned down for a mortgage 3-4 weeks after the offer is accepted. The seller has made plans to move, and has taken their house off the market. If a seller knows in advance that a potential buyer is already approved for a mortgage, studies have shown that they have a greater willingness to negotiate, because you have eliminated their greatest fear.
Key Benefits:
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Know exactly how much your loan is
approved for, before starting your search Greater negotiating
leverage with the seller No need to worry about
your mortgage, once your purchase contract is signed Able to close very
quickly, if necessary Peace of mind, that comes
with having certainty * * *
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