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The “Modern” Loan Process

The Movement Mortgage Story

Step 1: Get Pre-Approved

What are the benefits a new homeowner would get in getting preapproved with a loan officer firstGetting preapproved for a mortgage with a loan officer before purchasing a home can offer several benefits to a new homeowner:Budget Clarity: Preapproval helps you understand how much you can afford to borrow, giving you a clear budget for your home search. This helps you focus on properties within your financial means and avoids wasting time on homes that are outside your budget.Competitive Edge in Negotiations: Sellers often prefer buyers who are preapproved because it indicates that the buyer is financially ready to proceed with the purchase. In competitive real estate markets, having preapproval can give you an edge over other potential buyers when making an offer.Faster Closing Process: Since much of the paperwork and verification have already been completed during the preapproval process, the overall mortgage approval process tends to be quicker once you find the right home. This can be particularly advantageous in a competitive market where a fast closing may be attractive to sellers.Confidence in Decision-Making: Knowing that you are preapproved for a mortgage can give you confidence in your home-buying decisions. You can make offers on homes with the assurance that you have the financial backing to follow through.Accurate Home Search: Preapproval prevents you from wasting time looking at homes that are out of your price range. It helps you focus on properties that align with your budget, saving you time and energy.Negotiating Power: A preapproval letter can give you stronger negotiating power. Sellers may be more willing to negotiate on the price or other terms when they know you are a serious buyer with preapproved financing.Understanding Loan Options: Working with a loan officer during the preapproval process allows you to explore different mortgage options and understand the terms and conditions associated with each. This knowledge helps you choose the loan that best fits your financial situation and goals.Identifying Potential Issues: The preapproval process may reveal any potential issues with your credit or financial situation. Addressing these issues early on can help you strengthen your financial position before entering into a home purchase.In summary, getting preapproved with a loan officer before buying a home provides financial clarity, enhances your negotiating position, and streamlines the home-buying process, making it a valuable step for new homeowners.


"Despite the challenging economic conditions, Ed managed to secure a good interest rate for us quickly. He was straightforward, keeping us informed and making sure we understood each step of the process. Ed’s hard work and dedication were clear throughout. He was always ready to answer our questions (phone, chat, e-mail, etc.) and made the loan process as smooth as possible. His efforts saved us time and money, and we're very grateful for that. We look forward to working with Ed again for our refinancing needs when rates drop!"

lucien n

"Working with Ed on securing our home loan was an absolute game-changer. From the onset, it was clear that Ed was willing to go the extra mile to ensure we received the best possible loan and interest rate, especially considering the challenging economic conditions. Ed worked tirelessly, navigating through countless obstacles to expedite our loan process. His dedication was evident in every interaction, always available to answer questions, provide updates, and guide us through the complex world of home financing with ease and professionalism. We look forward to working with Ed again for our refinancing needs when rates drop, and we highly recommend him to anyone in need of a loan broker who truly cares about his clients and delivers exceptional results."

luke nyswonger

"Ed was fantastic. This was my first purchase and I felt he did a good job helping me through the process. He was straight to the point and always kept me in the loop. Thx Ed!!!"

danielle b