The first step in the home loan process is to get pre-qualified for a mortgage. Apply online to submit your information to one the top mortgage lenders in Dallas. (Yes…we’re talking about ourselves).
The next step after your pre-qualified is to submit your supporting documents so you can get pre-approved.
Get Pre-Qualified
Before you get pre-qualified, here’s what you need to know:
Quick and Easy: It takes just 15 minutes to complete the application.
Free of Charge: There’s no cost to apply.
No Obligation: You’re not committed to anything by applying.
Credit Safe: Applying won’t hurt your credit score (see our credit overview section).
Validity: Your pre-qualification is valid for 60 days (or until something changes).
Include All Borrowers: Add your spouse or anyone else who will be on the loan.
Mark + Team = Service
Mark jokes that The Mortgage Mark Team at CMG Home Loans does all the hard work, and he takes all the credit. The truth is, our team is awesome and will be your day-to-day contact. You’re not losing a Mark, you’re gaining a team.
Mark’s cell phone is (972) 898-2595. Feel free to call, text, or email Mark with any questions or feedback about the team or the process. Remember, it takes a village to secure a mortgage.
The Team Email
Reach out to us at MortgageMark@MortgageMark.com. Our team monitors this email regularly to provide quick answers and support during your home buying process.
Process Overview
There are three stages to applying for a mortgage loan.
- Submit the online loan application
- Review the application with a Loan Officer (via phone)
- Provide supporting documents to get pre-approved
Submit the Online Loan Application
- The online application takes about 15 minutes to complete.
- It’s free, and there’s no obligation or commitment.
Review Application (via Phone)
- Upon receipt of your application, we’ll create a mortgage profile, pull a credit report, and call you to review the details.
- This call can range from 30 minutes to an hour, depending on the complexity of the file.
Provide Supporting Documentation
- The difference between being pre-qualified and pre-approved is the paperwork.
- A pre-approval letter validates your ability to obtain financing and outlines the details of the proposed mortgage loan.
- A customized document checklist will be provided after submitting your application.
- Once all documentation is submitted, reviewed, and approved, your file will be pre-approved.
A seller wants to know they’re working with a qualified buyer before accepting an offer. The pre-approval letter provides this assurance.
Pre-Qualification FAQs
Below are the most common questions asked when getting pre-qualified for a mortgage.
Does applying for a home loan hurt my credit?
Answer: No. It does not hurt your credit scores when your credit is pulled to get pre-qualified for a mortgage home loan. Think about it this way: the credit bureaus don’t want to discourage consumers from being informed consumers and exploring options. Your credit scores can be adversely impacted for multiple inquiries and credit pulls for revolving credit (i.e. opening multiple credit cards). Check out our do’s and don’ts and credit overview regarding credit pulls.
Should I provide my spouse’s information?
Answer: Yes… Maybe. Some loans, like FHA, do require a spouse’s debts be considered in qualifying for a mortgage home loan (in community property states like Texas); therefore, we do recommend submitting a spouse’s information when get pre-qualified for a home loan. That said, we are able to remove a borrower with the click of a button if we do not need or want your spouse to be on the loan.
How much does a pre-qualification cost?
Answer: Zero – it’s Free. There is no cost and no obligation for getting pre-qualified for a mortgage home loan. We incur the cost of the credit report and are happy to do so for the opportunity to earn your trust and confidence to become your Mortgage Professional of choice.
How long is a pre-qualification valid?
Answer: 60 Days. A pre-qualification letter is typically valid for 60 days; however, it can become invalid if any significant factors should change (such as a decrease in credit scores, loss of employment, a reduction in assets, etc.). To update a pre-qualification requires that the lender pull another credit report and update the loan application information.
What’s Next?
Answer: Get Pre-Approved. Once you’ve submitted your loan application then the next step is to submit your supporting mortgage documentation to get pre-approved.
What’s Next?
Getting pre-qualified is the first step towards buying a home. The next step is to submit the supporting mortgage documentation to get pre-approved.
Ready to discuss your loan application?
Click the link below to schedule a time to meet with a member of the Mortgage Mark Team and discuss your loan application.
Previous: qualify for a mortgage
Next: get pre-approved
Mark Pfeiffer
Branch Manager
Loan Officer, NMLS # 729612
972.829.8639
MortgageMark@MortgageMark.com
We assist clients with all type of mortgage loan programs