Pre-Underwriting Service
Pre-Underwriting Service
HOME / SPECIAL PROGRAMS / PRE – UNDERWRITING
In competitive real estate markets across the country it has become increasingly difficult for buyers to get their purchase offers accepted.
It is no longer enough for qualified buyers to provide copies of their bank statements verifying down payment funds, a credit report showing a solid credit history, and a pre-qualification letter from their lender for the amount to be financed. Today’s buyers must go a step further.
Buyers seeking a competitive advantage must work with a lender that is willing to “Pre-Underwrite” their loan prior to their submission of a purchase contract.
What is involved in a Pre-Underwrite?
- Actual underwriter review and verification of your income, source of funds, and credit
- Actual pre-appraisal collateral manager review of the value range of your prospective property
- Drafting of a pre-approval letter certifying that a “Pre-Underwrite” has been completed and a final approval is conditioned only upon the sales price of the subject property being at or below a certain amount
Pre-Underwriting can essentially elevate a buyer above all other “non-cash” competitors. And if a lender is capable of closing in as little as two weeks (as is the case with HomeFirst), Pre-Underwriting can help a buyer to directly rival “all cash” competitors.
As a first time buyer or a seasoned buyer, you can rest assured that HomeFirst’s Pre-Underwriting service will help your purchase offer rise to the top of the stack for seller consideration. HomeFirst is one of a very small group of direct lenders currently offering “pre-underwriting” with the capability of funding within 14 days after an offer’s acceptance.
Contact one of our advisors today to learn more about our Pre-Underwriting service.
Pre-Underwriting Service
HOME / SPECIAL PROGRAMS / PRE – UNDERWRITING
In competitive real estate markets across the country it has become increasingly difficult for buyers to get their purchase offers accepted.
It is no longer enough for qualified buyers to provide copies of their bank statements verifying down payment funds, a credit report showing a solid credit history, and a pre-qualification letter from their lender for the amount to be financed. Today’s buyers must go a step further.
Buyers seeking a competitive advantage must work with a lender that is willing to “Pre-Underwrite” their loan prior to their submission of a purchase contract.
What is involved in a Pre-Underwrite?
- Actual underwriter review and verification of your income, source of funds, and credit
- Actual pre-appraisal collateral manager review of the value range of your prospective property
- Drafting of a pre-approval letter certifying that a “Pre-Underwrite” has been completed and a final approval is conditioned only upon the sales price of the subject property being at or below a certain amount
Pre-Underwriting can essentially elevate a buyer above all other “non-cash” competitors. And if a lender is capable of closing in as little as two weeks (as is the case with HomeFirst), Pre-Underwriting can help a buyer to directly rival “all cash” competitors.
As a first time buyer or a seasoned buyer, you can rest assured that HomeFirst’s Pre-Underwriting service will help your purchase offer rise to the top of the stack for seller consideration. HomeFirst is one of a very small group of direct lenders currently offering “pre-underwriting” with the capability of funding within 14 days after an offer’s acceptance.
Contact one of our advisors today to learn more about our Pre-Underwriting service.