Pre-Approval

A pre-approval letter is a document Lendexa provides stating the exact loan amount you're eligible to borrow based on the information you provide in your application. A pre-approval letter is always contingent on the future confirmation of your financial standing, an appraisal, and a title report. Obtaining a pre-approval letter will allow you to determine the price of the house you can afford and help you narrow your search. It can also be used to signal you're a serious buyer to a potential seller or real estate agent.

Our pre-approval process only requires a soft credit pull and is based on the information you provide us. This is typically what you want to get if you're at the beginning of your home buying journey, as it can help you determine how much you can afford.

The Lendexa digital application only takes a few minutes to complete, and our technology allows us to provide you with a pre-approval letter in a matter of seconds once we have your information.

Pre-approval letters are free!
No, we will not need to pull your full credit in order to provide you with a pre-approval letter.
Unfortunately, we can't reinvent the mortgage industry overnight—even though we wish we could! There are industry best-practices as well as individual lender guidelines that can influence how your verified income is calculated. This number is influenced by your income type, how long you have been earning it, and how long you expect to keep earning it. The good news is that Lendexa works with many lenders and has hundreds of different loans available for different types of people. We know our customers all have their own unique story, and we have options for just about everyone.
There are some cases when verified assets might be lower than you expect. Here are a few examples: 1) If you're using a retirement account, the lender will only allow you to use a percentage of these assets for qualification. 2) If you're using a business account, we can only use these accounts on a case-by-case basis. 3) If there's a large deposit in one of your accounts that is ineligible (cash, cash advance, or undocumented).