What is Pre-Approval and How It Benefits You
At Cherry Creek Mortgage Company, we have built a reputation in the market of being trustworthy, professional and in doing what we say. This includes our philosophy in offering pre-approval letters for our borrowers – we want our borrowers as well as sellers, real estate agents, and builders to know that they can rely upon us when we issue a pre-approval.
There is a different between a pre-approval and a pre-qualification. A pre-qualification is a brief review of your basic qualification, and a pre-approval includes a complete application, including income and asset documentation as well as full credit report. Most real estate agents prefer to present offers from borrowers who have been pre-approved rather than pre-qualified.
Here's what your "True" Pre-Approval Includes:
- An in depth consultation with Kristy, where she will spend an hour with you – reviewing your goals, educating you on the mortgage process and your options.
- Comprehensive review of your credit report, with a printed copy for you to take home with you.
- Kristy will craft a tailor-made strategy for you, matching your goals with the best loan for you.
- Detailed explanation of the mortgage process and the documents involved.
- Thorough review of your financial documents to troubleshoot for potential underwriting problems.
- Expert operation of Fannie Mae/Freddie Mac’s automated underwriting system to get you an actual electronic approval.
- Exclusive “WOW” touch point system of regular calls and communication throughout the process.
- Signed, guaranteed Pre-Approval letter sent to you and/or your Realtor.
- Ongoing access with Kristy and her team during your home shopping process for customized estimates and address-specific Pre-Approval letters.
- On-Time Closing Guarantee ($500) to back our Pre-Approval. *Conditions & Certain Terms Apply*
How We Process Loans Smoothly
Arranging a mortgage for the home you want used to mean weeks of unnecessary frustration and annoyance. Now we’ve made it simple and efficient for you by starting your loan application early in your home buying process.
Please have the following items when you meet with us:
- Photo ID and 1 other form of ID (ie SS Card or Passport)
- Last two months bank statements, all pages, for ALL open accounts
- Recent statement, all pages, for 401Ks, IRAs, money market, stocks, CDs
- Last two pay stubs for all borrowers
- Last two years tax returns, including all schedules
- Last two years W-2s from all employers
- Social Security awards letter, pension verification – if applicable
Possible Documents Required
- Executed sales contract
- Original Divorce Decree
- Bankruptcy papers
- Job acceptance letter (Relocation)
- Current mortgage statement
- Current property survey
- DD214 (VA Only)
You are not required to provide any documentation or verification forms to start your loan and receive disclosures from us. If you have any questions regarding this information, please do not hesitate to give us a call at (281) 882-8880.
Your Cherry Creek Mortgage Experience
- All about you
- What’s most important to you?
- Budget review
PRE-APPROVAL COMPLETION (THE NEXT 48-72 HOURS)
- Application signing and document exchange
- Process automated underwriting
- Present multiple loan options based on budget review & what’s most important
- Contact with agent
CONTRACT TO CLOSE
- Tuesday update call
- 48 hour pre-closing survey
- Official appraisal copy & closing gift
- Two month post close review
- Client party
- Annual review call
- Lifetime relationship
Get Started on your home loan today.