Loan Approval Without A Contract

Loan Approval Without A Contract

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. Instead of giving the seller’s agent a preapproval letter, provide them with an Approval Letter!

With TBD Approvals, buyers have the confidence that they have already been approved for their mortgage which means their buying power has 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 market 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 will have an underwriter to verify the income and the assets and see if it fits the lender’s guidelines.
  • We process the loan and, upon approval, we’re ready to close once the property is identified.

Who Is Eligible for This Program?

Clients who have challenged credit or high debt to income ratios.

  • Your clients are available for both FHA and Conventional mortgage loans, clients who have excellent credit or people who are below 640 credit rating and consider below average credit.
  • Qualify more borrowers with credit challenges to achieve the American Dream.
  • Please Call or E Mail For More Information

    Enjoy the peace of mind REALTORS of driving your clients around town with the mortgage loan already approved!