What is a Mortgage Free Approval?

Mortgage pre-approval is the process of reviewing your finances to determine the maximum home loan that you can afford. Lenders like Grand Capital Mortgage will take an in-depth look at your finances, including your:

Credit Score
Debt-to-Income Ratio (DTI)
Income
Employement History

A mortgage pre-approval isn’t binding, and your final loan won’t be confirmed until you complete the full lending process. However, having a pre-approval letter can be extremely valuable, as many sellers prefer to work with buyers who are pre-approved—especially in a competitive housing market.

Pre-Approval vs. Pre-Qualification

Pre-approval and pre-qualification are both ways to estimate your home-buying budget, but they are not the same. During pre-qualification, you provide an overview of your income, monthly debts, and other financial information to receive a rough estimate of your maximum loan amount.

Pre-qualification does not involve a credit check, making it less precise than pre-approval. However, it can still be helpful, giving you a general idea of your price range and allowing you to begin your home search with confidence.

Benefits of a Mortgage Pre-Approval

Prequalifying for a home loan is a quick and simple way to see how much you may be able to borrow before you start house hunting. By providing basic financial details—such as your income, employment, estimated credit score, and debts—a lender can give you an idea of the loan programs and amounts you may qualify for.

You can begin the prequalification process right now by filling out the form below. Once submitted, one of our experienced loan officers will review your information and guide you through the next steps. It’s a fast, no-obligation way to move one step closer to your new home.

Pre-Qualification Form

Residential Home Loan

Your Information

Additional Applicant Information

List the amounts of all your current financial obligations:

I/We certify that, to the best of my/our knowledge, the information provided above is true and accurate. I/We understand that completing this form does not constitute a loan application, as Grand Capital does not yet have all the information required for an official application. Submitting this form does not indicate an intent to proceed with a loan application.

I/We authorize Grand Capital, as the “Lender,” to verify the information provided, including obtaining credit reports and other verification documents. I/We understand that a photocopy, fax, or electronic/digital copy of this authorization is valid. I/We also understand that Grand Capital will use this information to assess my/our qualifications and pre-determine eligibility for financing approval.