Mortgage Pre-Approval at Park 65 Lending
A mortgage pre-approval at Park 65 Lending helps you understand how much you can borrow, which in turn helps you set a realistic budget for your home search and indicates to sellers that you are a serious buyer. A pre-approval will also help you identify and understand any issues that may prevent you from being approved for a mortgage. Many realtors will also require a pre-approval upfront before they begin showing you homes.
At Park 65 Lending, we can typically turn around a pre-approval within 24 hours or less, making us one of the fastest mortgage brokers out there!
Once your pre-approval is completed, you are ready to start writing offers on homes.
Getting pre-approved for your mortgage at Park 65 Lending is easier than you probably think. There are only 3 steps:
Complete a loan application, providing two years of address and employment history.
Submit the required documents requested by your Park 65 Lending loan officer.
Authorize Park 65 Lending to check your credit report.
FAQs
How long is my pre-approval good for? A pre-approval is good for 90 days from the day your Park 65 Lending loan officer pulls your credit. Pay stubs, bank statements, or other documents may need to be refreshed throughout the process until your home purchase is completed.
Can I do a soft pull instead? While we technically need to do a hard pull to submit a mortgage loan for approval, Park 65 Lending does offer soft pulls as a way to get the preliminary information we need to find potential red flags in a future approval submission. This is a nice tool for clients who was a first pass at understanding their lending options but may not be fully committed to buying a home just yet.
Does a hard pull on credit affect my credit score? There is no way to complete a home purchase without doing a hard pull on your credit. The impact on your credit pull is generally understood to be minimal because hard inquiry count only makes up 10% of your entire credit score. Repeat pulls within 45 days are generally understood to not have any impact on credit scoring.
How many times do you pull my credit? Park 65 Lending is a mortgage broker and thus shops your mortgage around for the best rate and terms. That being said, we still only pull your credit once in most cases.