How Quickly Can You Get Pre-Approved and Under Contract?

In this episode of The Brutally Honest Loan Officers: The Unfiltered Mortgage Minds, Derick and Stephen dive into the speed and efficiency of getting pre-approved and under contract for a home. Derick shares a recent experience where a couple went from loan application to being under contract in just 15 hours. The duo emphasizes the importance of submitting all necessary documents promptly to expedite the pre-approval process. They discuss what documents are needed for both W-2 employees and self-employed borrowers, highlighting the potential pitfalls of working with online lenders who may not provide accurate pre-approvals. The episode wraps up with tips on maintaining a smooth mortgage process, including realistic timelines and understanding the need for specific documentation.