Empowering Your Home Search: The Importance of Pre-Approval
Introduction
America Mortgages Inc. is a mortgage broker focusing only on U.S. Expats and Foreign Nationals living overseas.
We offer over 150 U.S. bank and lender programs direct to our international clients.
America Mortgages is wholly-owned by Global Mortgage Group Pte. Ltd. an international mortgage specialist based in Singapore.
A pre-approval denotes an official letter from the mortgage lender outlining the maximum mortgage amount they are willing to lend you. It’s not a commitment but only a rough estimate of the loan that you may borrow from that organization, the possible interest rate, and the monthly installment figure.
You can get the pre-approval document by filling up a loan application. The lender will ask you to submit some paperwork, including pay stubs, credit check, bank account statements, tax returns, and W-2 statements. An officer will look into the information provided and give you a written statement detailing the mortgage amount you are qualified to borrow.
A pre-approval does not guarantee the approval of a loan. It just means that the lending company has looked into your assets and other aspects of finances and chalked out the
At America Mortgages, we approve over 97% of all applications. Some of our loan programs don’t even require verifying the applicant’s income! Mortgage pre-approvals have an expiry duration, ranging between 30 and 90 days, depending on the lending company.
A pre-approval solidifies your financial stability and seriousness to the house seller. You can stand ahead of other potential buyers in a competitive market.
This will particularly help first-time homebuyers to convince the seller that they are ready to put in an offer. Some people confuse between preapproval and prequalification.
However, the latter does not have much credibility since it does not involve a thorough investigation into your incomes and credit score.
Contact Us
Address: 118 Broadway STE 638, San Antonio, TX. 78205 (HQ)
171 Telok Ayer Singapore 068621
Email id: hello@americamortgages.com
North America: +1 (845) 583-0830
Europe: +44 07537-131168
Asia: +65 8430-1541
Australia: +61 2 8417-2895
Middle East: +971 800-0651-2066
Website: https://www.americamortgages.com/
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