A Timeline of Pre-Approvals vs. Loan Commitments (Infographic)

Posted by Laine Smith on 8/28/15 11:30 AM

Topics: Home Buying

Meeting with a mortgage lender should always be your first step in homebuying. While shopping with a pre-approval is better than shopping without, a loan commitment can give homebuyers a consistent head start against other buyers while expediting the loan process. Here's a how a loan commitment differs from a standard pre-approval.

Pre-Approval_vs._Loan_Commitment_Timeline

Pre-Approval_vs._Loan_Commitment_FINAL

For more information on how to get a loan commitment, contact one of our mortgage bankers. If you're buying your first home, download our free Mortgage 101 Handbook for everything you need to know about the home buying and financing process.

Download: Mortgage 101 Handbook

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