There is no obligation with our free preapprovals. There is no cost and if you decide to use someone else for your mortgage, there is no problem.

Why should I be preapproved?

If you are purchasing a home, there are several reasons why you should be preapproved. First, it allows you know how much house you can afford. Several factors go into this including monthly income, down payment, and your credit rating. When becoming preapproved, all of these factors are reviewed, and you know exactly how much of a monthly payment you will have, and how much you can comfortably afford.

Secondly, you have more purchasing power when you are preapproved. Sellers will take your offer much more seriously if they know that you are already approved for a mortgage loan. Some realtors won't even deal with you if you are not preapproved for a loan.

Third, being preapproved speeds up the closing process. The closing on a new home can occur faster if you are already approved for your mortgage loan.