You shouldn't worry about missing out on the perfect home.
You have good credit and enough money to buy a home and can afford the monthly payments. So why didn't the sellers accept your offer to buy their place?
The problem is your mortgage pre-approval letter. It's unreliable. The lender didn't verify your financial information up front, and the loan officer who signed the letter doesn't make loan decisions.
Because your financial information is unverified, sellers and real estate agents doubt you can get a home loan, so they're afraid to accept your offer.
You should feel confident that the seller will accept your offer.
You're ready to buy a home. You know it, and the sellers do too.
That's because a certified mortgage underwriter from NewCastle Home Loans, the person making the final loan decision, verified your financial information and signed your mortgage pre-approval letter.
Include your verified pre-approval letter when you make the offer. A verified pre-approval letter enhances your negotiating power, especially when competing with other buyers.
It also improves the likelihood of winning the deal because sellers and real estate agents know you'll get the loan to buy the home and close quickly.
Start now by sharing your financial information with us. Then, before the end of the day, you get a pre-approval letter signed by one of our loan underwriters.
Buying the perfect home starts with a verified pre-approval.
Feel confident about making an offer to buy a home. A loan decision-maker verifies your information so you know you're ready to buy.
Same day pre-approval
Make an offer quickly and take advantage of every opportunity to buy the perfect home.
Endorsed by an underwriter
Enhance your negotiating power and improve the likelihood of winning the deal.
Better service
Rely on us to guide you along the path to homeownership, making sure everything goes smoothly.
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"My experience with New Castle Home Loans and Jim's team was nothing short of outstanding. They provided me with a home loan that was tailored to my family's needs, and the entire process was incredibly easy-going and hassle-free..."
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"The NewCastle team helped us achieve our long-time goal of becoming homeowners. I never dreamed closing on a home could go so smoothly for us. They were..."
"Highly recommended! Jim and his entire time were friendly, helpful, and responsive. I'm glad I worked with this business, who has an office right here in the city and understands the intricacies of the Chicago market."
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"I worked with Jim last year and worked with him again this year as well. Jim was very helpful, and is very obvious that he..."
Prepare for your mortgage pre-approval.
Decide how much you want to spend on a home.
First, figure out how much money you have to buy a house. You’ll need enough cash to cover the down payment and closing costs.
Then, estimate how much you can afford for monthly housing payments. The housing payment includes principal & interest, property taxes, insurance, and association dues (PITI).
Get an instant quote to estimate the monthly payment and closing costs.
Have your personal information and financial documents handy.
The lender will ask you where you've lived and worked for the last two years. Be up to date with your addresses and income history.
They may want copies of documents about your credit history, income, and the source of money for your purchase. So, know where to find recent paystubs, W-2 statements, tax returns, and bank statements.
Select a lender for your mortgage pre-approval.
Sellers want a pre-approval letter before considering your offer on the house. And they're more likely to accept a verified mortgage pre-approval. So when choosing a lender, focus on the strength of the pre-approval rather than the rate.
After you're under contract, you'll have plenty of time to shop and compare rates.
You're in the right place for a verified pre-approval. NewCastle Home Loans confirms your financial information up front and provides a personalized letter from our underwriter vouching for your loan.
Get pre-approved for a mortgage.
View rates and personalize you home loan.
See the details on rates, payments, and closing costs online, 24/7. Or talk to an expert. Either way, you can explore loan options as you plan for your big purchase.
Share your information with us.
Answer a few questions about yourself and the property you want to buy. Next, connect your employer and bank accounts. Then, transfer your income and account records instantly. It's fast, easy, and secure.
After that, we check your credit and verify your financial information.
Get your verified pre-approval letter
After our loan underwriter, the person making the final loan decision verifies your financial information, you get a verified mortgage pre-approval letter – on the same day.
Then you're ready to find the perfect home and feel confident about making an offer.
Make an offer that the seller accepts.
Hire the right real estate agent
After you're pre-approved, hire a real estate agent and give her a copy of your letter. Your agent finds you the perfect home and helps you make a solid offer to buy it.
Also, a good agent understands neighborhoods, negotiations, and paperwork, saving money and making your big purchase more fun. Best of all, a buyer's agent is free - the seller pays her commissions.
Find the perfect home.
As your real estate agent narrows your search and finds a few homes to see in person, you'll want to know how much they cost. Our calculator is ideal for estimating monthly payments and closing costs, so you know what to expect and are never surprised later.
Change the purchase price, down payment, and loan type, and run multiple scenarios to get the necessary information when you want it. As always, our mortgage experts can answer any of your questions.
Make a solid offer to buy it.
After deciding to make an offer to buy a home, your real estate agent prepares a sales contract. Include your personalized letter from NewCastle Home Loans. A fully verified loan pre-approval signals to the sellers that you have a home loan and are ready to close quickly.
The sellers accept, decline, or negotiate your offer. Expect some back and forth until you and the sellers reach an agreement.
Frequently asked questions
When should you get preapproved for a mortgage?
The best time to get pre-approved for a mortgage is between 1 and 4 months before buying a home.
- We check your credit before issuing a pre-approval letter.
- Your credit score determines how much you can afford and the type of loan, interest rate, and monthly payment.
- It expires in 4 months.
After that, we restart the pre-approval process with another credit check.
How long is a mortgage pre-approval good for?
Your mortgage pre-approval letter is good for four months from the date we check your credit report. After four months, your credit expires, and so does your pre-approval.
We'll update your pre-approval for another four months if you're still looking for a home to buy. Updating the pre-approval is easy. First, we recheck your credit and reverify your financial information. Then, you get a new pre-approval letter so that you can take advantage of every opportunity.
Should you get pre-approved by multiple lenders?
You need one strong mortgage pre-approval letter to include with your offer to buy a house.
Make sure the lender's underwriter verifies your financial information and signs it. Otherwise, sellers and agents feel uneasy about an uncertain outcome. As a result, you're less likely to win the deal, especially when competing with other buyers.
You're in the right place for a strong pre-approval letter. We confirm your information upfront so you get a personalized letter signed by our underwriter.
Will a mortgage credit check lower your score?
We check your credit before pre-approving your mortgage to give you a reliable pre-approval letter and rate quote. It's a hard inquiry that reports to the credit bureaus and affects your credit score. Therefore, we always ask for your permission first.
The report and score are good for four months. Multiple inquiries by lenders within 45 days count as one inquiry. So your credit will be okay if the last is within 45 days of the first. But, credit checks after the 45-day window may lower your score.
To keep your inquiries low and your score high, allow only one lender to check your credit for your pre-approval letter. Choose a lender that verifies your financial information. This way, you have the best chance that the sellers will accept your offer to buy their home. Then, after you're under contract, you'll have plenty of time to shop and compare loan offers.
Why use NewCastle Home Loans for a mortgage?
When you work with us, you get a lower interest rate and better service on your mortgage.
- View an honest rate quote upfront to know what to expect.
- Enjoy the convenience of a 100% online mortgage.
- Rely on our staff of certified mortgage underwriters to guide you to homeownership, making sure everything goes smoothly.
After that, close your loan on time, at the interest rate we promised, with better service than you expected.