Get Your Free No-Obligation Mortgage Rate Quote

At Mighty Mortgage we keep it simple. Tell us what you want and then let us wow you with what we can do! Read on for details about quotes, pre-qualification, pre-approval, rate locks, and formal application.   

Step 1: Quotes:

This is the tell us what you want so we can show you what we can do part of the process. Here the goal is to understand your needs and determine the kind of home loan you're seeking, so we can provide you with a menu of mortgage rate options tailored to meet your specific needs.        

Two short calls is usually all it takes to get a proper rate quote menu. The first to determine what you're looking for, and the second to go over available rate options and answer any questions you may have about the mortgage loan process. 

Step 2: Pre-qualification and Pre-approval:

Pre-qualification is discussing employment, income, estimated credit, and other loan qualifiers, all without running credit or collecting documentation from you. Pre-qualification can be very informal; sometimes it's just a short conversation on the way to pre-approval, or it can often be an open ended process of guided coaching and goal setting in preparation for buying a home in the future.  

Pre-approval comes next. Here we run credit, verify scores, and collect identity, income, and asset documentation. Typically driver's license, most recent pay stubs, W2's, and current account statements.

Step 3: Rate lock and Application   

For a refinance, the next step after preapproval is usually locking the rate and e-signing the initial application and disclosures. 

For a purchase, once the pre-approval is in place it's time to start shopping for a home. During this phase Mighty Mortgage will be standing by to provide you with financing estimates for homes of interest, and when you're ready to make an offer to buy a home, a formal letter of preapproval to show the seller you mean business. After the seller accepts your offer, the loan terms and rate lock options are reviewed and set to match the terms of the sale agreement, and then the initial application and disclosure package is issued for e-signatures.     

For additional details contact Mighty Mortgage today!