Mortgage loan pre-approval can be the advantage you need to get the home you want in today's ultra-competitive housing market.

Once you have decided to start looking for a home, you need to be prepared. You should have an accurate idea of what a loan would cost, how much you can borrow, what rate you qualify for and more. Your mortgage lender can give you this information.

Pre-qualification versus Pre-approval

Pre-qualification from a mortgage lender is an estimate based on information you supply which is then used to calculate an approximation of how much you are qualified to borrow. But pre-qualification is just an estimate. Pre-approval is when a lender verifies your information and with that verification can approve loan amount. This process includes running a credit check and verifying income.

The benefit of pre-approval over pre-qualification is that a seller knows you are serious and can afford to make a purchase based on your pre-approval.

In today’s housing market, buyer’s need every edge to enter into a contract for a home. By having a pre-approval in-hand when viewing a property, a buyer has a distinct advantage over prospective buyers who have not yet went through the steps to ensure loan pre-approval. Sellers often prefer to entertain offers from buyers who have pre-approval.

Polygon Financial Can Pre-Approve You in a Matter of Hours

Fill out the form below to start the pre-approval process. We will get back in touch to ask you questions and tell you what information and documents will be needed to for your pre-approval. Once we have the documents and information, we will start the pre-approval process. The sooner you give us what we need, the sooner we can give you a pre-approval. In most cases this takes hours.

Documents Needed For Pre-approval

  1. Proof of Income: Past two years W2 forms, two months of most recent pay stubs, proof of additional income (alimony, child support, bonuses), past two years tax returns.
  2. Proof of Assets: Two months of most recent bank statements and retirement accounts.
  3. Credit Score: We will need your permission to run your credit score.
  4. Employment Verification: You may need to provide additional documentation in addition to paystubs. 
  5. Identification: Copy of driver’s license and Social Security Number.
These documents can be provided through digital delivery. To ensure the quickest results, please be prepared with documentation at the time of your request. Also be ready to provide additional documentation as needed. 

Fill out the form to start the pre-approval process.

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