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Get Started On Your

Home Buying Journey

Get Pre-Approved

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Ready to get a mortgage pre-approval and start your home search today!

First Time Home Buyer

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We’re here to walk you through the home buying process and help you on this exciting journey.

Low Credit Score Mortgage

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Don’t let low credit scores stop your home buying journey, get informed about your options!

Low Down Payment Mortgage

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Don’t let a down payment get in the way of your homeownership dreams!

Reduced Closing Cost Mortgage

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Avoid upfront closing costs and keep more of your money in your pocket.

Purchase A Second Home

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Your unique mortgage options for purchasing an investment property

Purchase An Investment Property

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Your mortgage options for purchasing a second home or vacation property.

Get In Touch with a Newfi Senior Loan Advisor Today!

Our team of dedicated Senior Loan Advisors are here to help you find the right mortgage solution for your situation.

What is a Mortgage Pre-Approval?

By getting pre-approved for a home loan, you’ll learn what price range, interest rate, and loan programs you qualify for. If you’ve already begun your search for your new home, or you’re just getting started, getting pre-approved will provide you with the confidence to make an offer on your dream home.

Why Purchase A Home With Newfi?

By getting pre-approved for a home loan, you’ll learn what price range, interest rate, and loan programs you qualify for. If you’ve already begun your search for your new home, or you’re just getting started, getting pre-approved will provide you with the confidence to make an offer on your dream home.

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Customers Helped

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Lending in 40 States

Frequently Asked Questions

What are the Advantages of Getting Pre-Approved for a Mortgage?

  • See exactly how much you can afford and what your interest rate will likely be
  • Show home sellers that you’re a serious buyer (crucial in this market!)
  • Close quickly on your new home once your offer is accepted
  • Speed up the underwriting and home loan approval process

How do I Get Pre-Approved for a Mortgage?

You can get pre-approved by contacting a Newfi Mortgage Advisor at (888) 316-3934. To get your personalized pre-approval letter, you’ll need to provide the following information:

  • Personal & Financial Information: We’ll ask you for your contact information, employment history, assets, and debt situation.
  • Desired Home Location: Where do you want to buy your new home? If you haven’t found a home yet, we’ll need to know the city or cities where you would like to live.
  • Credit Check: We’ll ask you to let us run your credit report so that we can provide you with an accurate interest rate for your new home.

 

If you have any questions about the home loan pre-approval process, contact a Newfi Mortgage Advisor at (888) 316-3934.

What does a Pre-Approval Mean?

A pre-approval means that we review your credit history, income, debt situation, and employment history to determine your creditworthiness as a potential borrower. Based on this information, Newfi extends an offer to lend up to a determined amount for the purchase of your new home, subject to conditions clearly stated in the pre-approval letter.

What is the Difference Between Pre-Approval and Pre-Qualification?

Pre-approval takes a deeper look at your finances than pre-qualification. Because of the more in-depth analysis, a pre-approval is a much more solid estimate of what mortgage rate and terms you may qualify for it.

Will Getting Pre-Approved for a Home Loan Affect My Credit Score?

Getting pre-approved does require a credit check. As with any credit check, your credit score may be temporarily lowered by a few points. However, if multiple mortgage lenders check your credit within a short period of time (typically 45 days), the credit bureaus should count the separate pulls as a single action, and your credit score would be affected only once.

Does Getting Pre-Approved Guarantee Getting a Loan?

No. Pre-approvals are not a confirmed offer to lend, and they require that certain conditions are met before the loan is originated. Pre-approvals are subject to modification or cancellation if your financial situation or other important factors change.

How Long is a Pre-Approval Letter Good for?

Newfi pre-approval letters normally expire within 90 days, but if substantial changes occur to your financial situation, your pre-approval letter may become invalid. It’s a good idea to get your pre-approval letter renewed if there are any changes to the financial criteria used to evaluate your ability to borrow, such as your income, employment, assets, or other criteria. You should also renew your pre-approval before you put in a bid on a house, or if the house you like is much more expensive that what you originally intended to buy. To renew your pre-approval letter, call your Newfi Mortgage Advisor at (888) 316-3934.

Does Getting Pre-Approved Commit Me to Borrow?

Absolutely not! Newfi offers pre-approvals as a free service to qualified borrowers. Pre-approvals do not obligate you to close your loan with us.

What are Home Purchase Mortgage Rates?

Your exact refinance rates will depend on the mortgage you choose, the rate you qualify for and the terms you select. Contact us to review your options and calculate your payments.

What if I Can’t Get Pre-Approved?

  • Have you been turned down by another lender? Newfi has years of experience helping borrowers who have been denied by other lenders. Contact a Newfi Mortgage Advisor at (888) 316-3934 to see if you may qualify with us.
  • If you have applied with us and did not get pre-approved, there are a few options you can take advantage of to put yourself in a better situation for future pre-approval:
    • Increase your down payment by setting aside more savings, or consider loan options where your down payment can be gifted to you, such as FHA loans.
    • Pay down debt to improve your debt-to-income ratio.
    • Improve your credit score by correcting any errors in your credit report, building a solid payment history, or reducing your debt. Read more about dealing with low credit