• A Full Loan Approval tells the seller that you are a serious buyer that is able to complete the sale
• The Approval First process allows you time to fix any issues prior to contract
• A Full Approval enables you to close quickly
Sellers (and realtors) have been mislead too often by accepting offers from home buyers with “pre-approved mortgages” only to find out later the buyers were unable to obtain a loan commitment from their lender.
Busy loan originators tend to issue pre-approval letters to home buyers based on very minimal data and without clearing important supporting documentation. This practice is very common, especially among online lenders, and is one that puts the buyer’s loan at risk.
Turn yourself into a “cash buyer” in the mind of the seller with American United’s Approval First program - a prior to purchase underwriting review that will result in a Full Approval Letter subject in most cases to only a home appraisal and sales contract.
Simply stated, it’s more work for the lender. Completing the full approval process in advance of a sales contract requires the lender to set aside time and resources.
However, at American United we strongly believe it’s the right thing to do. Approval First gives our clients the confidence and buying power they need to be successful in today’s competitive real estate market!