Pre-Approved Mortgage in San Francisco
Begin the process towards homeownership with RA Real Estate Loans. We help you navigate all stages of the mortgage pre-approval process so that you can shop the housing market with confidence.
Our brokers search the most competitive and affordable mortgages plans, locating options that are tailored to your needs. Our expertise and years of industry experience will help streamline the journey to owning your dream home.
To schedule a mortgage consultation with our specialists, reach out to us today at (650) 271-0404.
What Is a Pre-Approved Mortgage?
A pre-approved mortgage is essentially a written, conditional statement a lender provides after an application. After you have submitted the necessary supporting documents, including proof of income, debts, expenses, and other information, you’ll receive your mortgage pre-approval.
You’ll be provided with the full mortgage amount you are entitled to with that lender, as well as the interest rate, term, and regular payments. This way, you’ll be able to plan for your financial future and forecast your monthly expenses.
Pre-approval can be thought of as the first ‘green light’ in the home buying process. Contact us today to for a headstart.
What’s the Difference Between Pre-Approved and Pre-Qualified Mortgage?
While pre-approval is an official—though conditional—offer, pre-qualification serves only as a rough estimate for a loan that you may be entitled to.
To get a pre-qualification, you only need to provide basic information and figures. A pre-approval, on the other hand, requires the submission of an entire mortgage application.
Do Mortgage Pre-Approvals Affect Credit Score?
Luckily, applications for mortgage pre-approvals do not negatively affect your credit score immensely. This is because multiple mortgage applications within a two-week radius will be considered as one hard hit to your credit score as opposed to several. Before having multiple lenders run your credit, make sure you enlist the services of our trusted brokers to ensure that your application will have a minimal effect on your credit score.
What Should I Do Before Getting Pre-Approved for a Mortgage?
When taking out a mortgage, your finances should be in excellent standing. In addition to improving your credit history and being able to provide proof of employment and income, you should also be able to prove your ability to pay a down payment.
When Should I Get Pre-Approved for a Mortgage?
As soon as possible. A mortgage pre-approval is the perfect way to start your search for a home. Schedule a consultation with RA Real Estate Loans and discover what you can afford.
How Do I Get a Pre-Approved Mortgage?
Your mortgage broker will help with each stage of the process, from comparing your various options to filling in the mortgage application. You can count on our expertise to leave no detail overlooked. We’ll help with each stage of the process and provide the expertise you need.
How Long Do Pre-Approved Mortgages Last?
Pre-approved mortgages are typically valid for 60 to 120 days, with the interest rate locked in. However, this depends on the lender. During this time, you’ll be able to browse your options for the perfect home.
Contact RA Real Estate Loans for Superior Pre-Approved Mortgage Rates
RA Real Estate Loans provides outstanding brokerage services for mortgage pre-approval. Call (650) 271-0404 to schedule your first appointment.
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