The pre-approval process involves a confirmation of income and a credit check on the borrower. As long as no major income or credit changes occur between the time of pre-approval and the actual purchase of a home, the dollar amount of pre-approval can be expected to remain the same. The process may take anywhere from a few minutes (for an online lending application) to a couple of weeks. A nonrefundable fee may be charged for the process.
Guild Mortgage Company
PHONE: (425) 250-3191
FAX: (425) 440-3516
EMAIL: coryflynn@guildmortgage.net
WEBSITE: https://www.guildmortgage.com/get-started/officer/?officer=coryflynn
Drew Ebner
Guild Mortgage Company
PHONE: (206) 686-6015
EMAIL: debner@guildmortgage.net
WEBSITE: https://www.guildmortgage.com/get-started/officer/?officer=drewebner
Pre- Approval
Mortgage
A legal agreement that conveys the conditional right of ownership on an asset or property by its owner (the mortgagor) to a lender (the mortgagee) as security for a loan. The lender's security interest is recorded in the register of title documents to make it public information, and is voided when the loan is repaid in full.
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