Get Pre-Approved for a Mortgage

What Is a Pre-Approval?

It’s a letter from a lender that indicates the type and amount of loan you may qualify for. It gives you a solid idea of how much you qualify for to help you target a specific price range when home shopping.

How To Get Your Pre-Approval Letter

Mr. Cooper offers a simple, fast, and free Pre-Approval process. Just provide some basic information (income, assets, etc.), we’ll do a soft credit check that won’t impact your credit score, and then we’ll either provide your Pre-Approval letter or reach out if we have questions or need additional information. The whole process takes just a few minutes.

There Are No Commitments
Getting Pre-Approved with Mr. Cooper does not obligate you to get a mortgage or buy a house.

Why Get a Pre-Approval Letter?

1. It Helps Your Real Estate Agent

The National Association of Realtors says: “Realtors® prefer to work with home buyers who have a pre-approval in hand for two reasons. First, a Realtor® knows the deal isn’t likely to fall through, and second, when they know what you want and what you can afford, Realtors are able to do a better job of finding your dream home.”

2. It Speeds Up the Buying Process

Your lender will already have some of the key information they need at other points in the homebuying process, and you can focus on houses in your price range to make shopping more efficient.

3. It Lasts 120 Days

Mr. Cooper’s pre-approval letters are valid for up to 120 days. Which should give you plenty of time to find and negotiate your new home purchase. And you can always level-up to a Verified Approval when you are ready to make an offer on a house.

A Verified Approval Is Even Stronger
A Verified Approval is a step above a Pre-Approval. Lenders only provide them after verifying your finances, and they can give sellers even more confidence in your bid.
If you’ve already found the right home, a Verified Approval is what you’ll want!