Approvals Without a Contract!

TBD Approvals

Wright Mortgage offers an innovative new loan program to homebuyers – before they find their home!

We can complete the loan process – actually approving your buyer – without an identified property.

With TBD Approvals, buyers have the confidence that they have already been approved for their mortgage which means their buying power is improved:
Sellers know the loan process has been completed so there is no worry that the sale won’t close.
Buyers can negotiate a good purchase price because they know they can close quicker than with a traditional loan process and they can offer the seller an assured closing

How does it work?

The buyer completes a mortgage loan application with Wright Mortgage, providing us with all of the information needed for a mortgage loan – except for the address!
We process the loan and, upon approval, we’re ready to close once the property is identified.

Who is eligible for this program?

Those mortgage loan borrowers who have challenged credit or very high debt to income ratios.
Your clients are available for both FHA insured mortgage loans and Conventional mortgage loans, people who have excellent credit or people who is below 640 credit score and consider below average credit.
Qualify more borrowers with credit challenges to achieve the American Dream.

New Downpayment Assistance Program!

New Downpayment Assistance Program!

Wright Mortgage has a new program that provides up to 3% in down payment assistance, in the form of a non-repayable grant for FHA, VA and USDA 30-year fixed mortgage loan only. There is no repayment associated with this down payment assistance program. The grant program may be applied against the borrower’s down payment, closing costs and prepaids. This is a regular FHA loan but a new down payment assistance program.
The loan must be a owner-occupied home and the borrower must not own any rental property

Minimum 0.50% from the borrowers own funds cannot be gifted.

Minimum 640 FICO score.

DTI not to exceed 45%.

Income limits restricted by County regardless of family size.

Rate/term and non-first time home buyers permitted.

Available on Texas properties, except in the cities of El Paso, Grand Prairie and McKinney.

Home purchase price cannot exceed $250,200.