Mortgage Blog

Just want to let you know that some lenders will
provide you for the super pre-approval for the purchase.
Basically they will provide you the pre-approval with
your income, assets, the credit conditions, the same
way as a real loan. The only thing left will be the
appraisal report.

With the super pre-approval, then the borrowers can
compete with cash buyers since they will not have
financial contigency either. And the seller can make
easy decisions simply by the higher bid, not necessary
for the cash offers.

This might be(or might not be) a trend. But some small
lenders are starting to do that for the benefits of
the buyers.