top of page

What is a Mortgage Pre-approval? Step 1 of the Mortgage Process


Imagine that you are energetically scanning Zillow, or another website, looking for your dream home and boom! There it is, just like you’ve always envisioned it. After a quick call, you jump in the car and find yourself in front of the home, standing on the luscious green grass as the sun sets. Walking down the halls you feel right at home. Then the realtor pops the question, you are pre-approved right? Talk about shattering your dream.

Mortgage pre approvals are the first step in the home loan process

Unfortunately many consumers think that the mortgage process starts with hunting for the perfect home. While house hunting is fun, it can lead to heart ache when you are told that you can’t afford the home you just fell in love with. Getting pre-approved is the key to avoiding these situations and that’s why it is the first step in the mortgage process.

What is a pre-approval? A mortgage pre-approval answers the question, how much mortgage can I afford? It is a letter that states the maximum amount of money you qualify to borrow for a mortgage, given your financial situation. Your pre-approval helps you avoid looking at homes you can’t afford and becomes extremely useful when you decided to submit an offer on a house.

How do you get pre-approved? In order to determine the amount that you qualify to borrow, a loan officer has to look into your financial history. This is typically done by meeting with your loan officer and reviewing income documentation, your work history, and your credit history.

Are there other benefits from getting pre-approved? There are. Meeting with a loan officer is a great time to ask questions. The mortgage process can be complicated; why not get answers from a professional up front? Discuss items like the different loan programs that could fit your needs or what to expect throughout the loan process. Beyond answering questions your loan officer can also help you find an experienced realtor who will fight for you.

What’s next? By the end of the pre-approval process you’ll have a written letter stating how much you can afford, knowledge of the different loan programs available to you, and the help of a trusted realtor. It’s time to find the dream home that’s within your budget!

Featured Posts
Recent Posts
Follow Us
  • Facebook Classic

Utah Loans, utah loans, Northern Utah Loans, northern utah loans, Cache Valley Loans, cache valley loans, Utah Mortgages, utah m​ortgages, Northern Utah Mortgages, northern utah mortgages, Fast Track Loans, fast track loans, Fast-Track Loans, fast-track loans, Fast-track Loans, Fast-track loans, Fast-Track Mortgages, fast-track mortgages, Fast-track mortgages, Fast-track Mortgages, Quick Loans, quick loans, Quick loans, Fast loans, fast loans, Quick Mortgages, quick mortgages, Fast mortgages, Fast Mortgages, Purchasing a home, Purchasing a Home, Buying a home, Buying a Home, Refinance, refinance, FHA loans, FHA mortgages, fha loans, fha mortgages, purchase, purchase, refinance, refinance, USDA loan, USDA, Rural Housing Loan, Rural housing, Rural housing loan, Mortgages in Logan, Mortgages in logan, Mortgages in Logan, Mortgages in Logan, Mortgages in Logan, Mortgages in logan, mortgages in logan, mortgages in logan, mortgages in logan, Northern Utah Mortgages, Northern Utah Mortgages, Northern Utah Mortgages, Northern Utah Mortgages, Mortgages in Cache Valley, Mortgages in Cahce Valley, Mortgages in cache Valley, Mortgages in cache valley, mortgages in cache valley, mortgages in cache valleymortgages in cache valley mortgages in cahce valley, mortgages in cache valley, mortgages in cache valley, mortgages in cache valley, Mortgages in Cache Valley,, Mortgages in Cache Valley, Mortgages in Cahce Valley, Mortgages in Cache valley, Mortgages in Cahce Valley, Cache Valley Mortgages, Cache Valley Mortgages, Cache Valley Mortgages, Cache Valley Mortgages, Cache Valley Mortgages, loans in cache valley, logan laons, logan loans, logan loans, logan laons, cache valley mortgages, cache valley mortgages, cache valley mortgages, cache valley mortgages, cache valley mortgages, cache valley mortgages, cache valley mortgages, cache valley mortgages, cache valley mortgages, cache valley mortgages, cache valley mortgages, cache valley mortgages, cache valley mortgages, cache valley mortgages, Cache Valley Mortgages

Wasatch Mortgage Solutions is an equal housing lender | Home Loans in Logan Utah

435-755-2177

664 North Main Ste. 103

Logan, UT 84321

NMLS: 3135

Wasatch Mortgage Solutions

  • Wasatch Mortgage Solutions Home Loan
bottom of page