Mortgage Pre-Approval vs. Full Pre-Approval

There's nothing quite like owning a home you absolutely love, but before you start to choose what homes and neighborhoods fit your lifestyle, you should have a conversation about getting pre-approved.

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Let’s break down the difference between a Pre-Approval and a Full Pre-Approval:

What Does Pre-Approval Mean?

Simply put, a pre-approval is based on what you tell your mortgage loan originator about your financial situation and your credit review. You'll give them information like your income and downpayment amount. Based on your information, you'll get pre-approved to apply for a mortgage up to a certain dollar amount. Once you find the house you love, you'll still need to apply for your mortgage.

What Does Full Pre-Approval Mean?

Full pre-approval is a full underwriting package, meaning, you know before you even find your house that you're approved to buy at a certain price. All of your information will be reviewed by our underwriters, and your credit is pulled.

How Long Does Full Pre-Approval Take?

Full pre-approval can take up to 2 weeks to finalize once you've finished your application. So, the key is to get fully pre-approved now so you're ready to buy when your dream home goes on the market.

Getting Started with Your Mortgage Full Pre-Approval

With the fast-paced real estate market, we want to make sure you have every advantage to get the home of your dreams. With our exclusive StartSmart full pre-approval process, you'll know how much home you can afford and position yourself to win when sellers have multiple offers on the table.