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  • (651) 552-3681

    Home Purchase - Home Refinance
    Serving MN WI IA ND SD CO FL

    Upload Documents Cambria Mortgage app
    Cambria Mortgage application

  • Why Get Pre-Approved For A Mortgage

    Importance of Loan Pre-Approval

    It's a competitive world in the home buying market today. You need every edge you can get. Getting pre-approved for a mortgage, and having a pre-approval letter from a local reputable lender like us gives you that edge when buying a home.

    Getting pre-approved for a mortgage is very different than getting pre-qualified for a mortgage, and you need to understand the difference.

    When getting pre-approved for a home loan here in the upper Midwest states of MN, WI, IA, ND, SD, CO or FL, we will actually review a full and complete application, along with your credit report, proof of income (like pay stubs), proof of down payment money (like bank statements), and more. We will also discuss with you your long-term and short-term payment and equity objectives so you can zero in on the right house, at the right price.

    Once we go over your application, review your documents, and discuss your options, we will provide you with a written pre-approval letter to go shopping for a home.

    This is like having the Willy Wonka Golden Ticket of Real Estate

    Here’s why it’s crucial that you complete the pre-approval process before making an offer on a house.
    • Helps you to determine how much of a home you can safely afford, how much money you'll need for down payment, and an idea of what you can expect for monthly housing payments. [payment calculator]
    • Demonstrates to Real Estate Agents and Sellers that a legitimate lender has evaluated your financial situation, and they are willing to give you a home loan
    • Shows the seller you’re a serious buyer, which can be the key to closing.
    • Proves that you have financing, and that you’ll be able to go through with the sale.
    • Makes your offer more attractive to the seller.

  • Pre-Approval Doesn't Hurt Credit Score

    One of the biggest myth's out there is getting pre-approved for a mortgage will hurt your credit score. The reality is you need to have someone review a full application AND CREDIT. Inquiries on your credit report simply do NOT have the effect people think of hurting credit.

    Now should you get pre-approved for a mortgage loan with 5, 10 lenders? NO.

    Should you maybe talk to a few mortgage lenders? Sure, but having one or two of those lenders do a full review and pull your credit will have little to no effect on anything.

    Want to learn more on credit score inquiries? Read my article on the Credit Score Inquiry Myth

  • ** EXPERIENCE MATTERS **

    Top rated mortgage lender locally and nationally, year after year... This is because clients agree - Experienced Loan Officers with mortgage interest rates you can brag about and amazing service clearly sets us apart from the big banks and online lenders.

  • Equal Housing Lender. The Joe Metzler Team at Cambria Mortgage lends in Minnesota, Wisconsin, Iowa, North Dakota, South Dakota, Colorado, and Florida only. This is not an offer to lend or to extend credit, nor is this a guaranty of loan approval or commitment to lend. Information here can become out of date, and may no longer be accurate. Products and interest rates are subject to change at any time due to changing market conditions. Not all programs available in all states. Actual rates available to you may vary based upon a number of factors. Consumers must independently verify the accuracy and currency of available mortgage programs. All loan approvals are subject to the borrower(s) satisfying all underwriting guidelines and loan approval conditions and providing an acceptable property, appraisal and title report. Joe Metzler, NMLS 274132, Cambria Mortgage NMLS 322798. © 1998 - 2024.

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