Pre-Qualification Pre-Approval

Commitment to Lend None Conditional Commitment

Credit Check

Basic info / Financial Standing

Other RequestedDocuments

Underwriter Review

REQUESTED INFORMATION

WHAT YOU’LL RECEIVE

None None

Summary of Assets

Fed. tax returns for last 2 yrs (all schedules, including K-1s or W-2s)

Pay stubs for past mo.(including year-to-date totals)

Account stmts. for last 2 mo. (all numbered pages)

Prelim. determinationof loan qualification

Estimated approvedloan amount

1– There may be additional documents if you are self-employed or depending on the state you live in that are necessary to complete a RealQual® Credit Approval. Please check with your mortgage loan contact to ensure you include all documents in the RealQual™ Credit Approval request.

2– The commitment in a RealQual® Credit Approval is generally conditioned upon (i) a sufficient home value to support the proposed loan, (ii) no material changes occurring in your financial condition or creditworthiness prior to the closing, and (iii) any additional conditions not related to your financial condition or creditworthiness set forth in the RealQual™ Credit Approval letter.

Know how much you can likely afford

ADVANTAGES

Signal to Realtor / Seller Potential Buyer Serious Buyer Committed Buyer

Assets Summary

Purchasing Power None Limited Strongest

What’s the difference between a Pre-Qualification and Pre-Approval?These terms may sound similar, but it’s important to understand the differences. While a Pre-Qualification can give you an idea of your financial standing, a Pre-Approval from Home Point can give you the purchasing power you need when searching for your next home. Compare the differences between these options to see which one makes the most sense for you:

Cost Free Free

1

2

Mortgage Loan Pre-ApprovalUnderstanding Your Options

Offered by HPF

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®

Conditional Commitment

Pre-Qualification vs. Pre-Approval vs. REALQual®

What’s the difference between a Pre-Qualification,Pre-Approval and REALQual® Credit Approval?

A Pre-Qualification is simply a lender's judgment of your ability to make payments on your mortgage, based on your verbal statement of income, assets and employment history. While it can help give you an idea of what you can resonably afford, a pre-qualification stops short of any real “buying power.”

To give you the edge you need, Home Point Financial offes two options: Pre-Approval and REALQual® Credit Approval. Under both programs, a HPF Mortgage Loan Expert will review your credit and income information and will provide you with a preliminary determination of your loan qualification—signalling to sellers that you are a serious buyer.

A REALQual® Credit Approval goes one step further and is considered a true, conditional credit approval. This unique program underwrites the loan up front before a property is found and includes a comprehensive review of the potential buyer’s income, employment, credit and assets by a dedicated underwriting team—leaving only an income verification and appraisal before closing.

Note: Credit approvals are provided for informational purposes and are intended to assist you in the mortgage process. Neither is a substitute for obtaining an official loan estimate. When you are ready to move forward with your mortgage, you should submit a loan application and get an official loan estimate before choosing a loan.

Getting Started with REALQual®

Home Point Financial Corporation. NMLS Unique ID No.7706 (www.nmlsconsumeraccess.org). 1194 Oak Valley Drive, Suite 80 Ann Arbor, MI 48108. Toll-Free Tel: 888-616-6866. Arizona License No. 0930854; Loans made or arranged pursuant to a California Finance Lenders Law license; Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License No. 4131048; Georgia Residential Mortgage Licensee No. 33540; Illinois Residential Mortgage Licensee License No. MB.6760891; Kansas-Licensed Mortgage Company License No. SMC.0025367; Massachusetts Mortgage Lender License No. ML7706; Nebraska Mortgage Banker License; Licensed by the New Hampshire Banking Department; Licensed by the New Jersey Department of Banking and Insurance; Licensed Mortgage Banker—N.Y.S. Department of Financial Services; North Dakota Department of Financial Institutions-Money Broker License No. MB102834; Oklahoma Mortgage Lender License No. ML010597; Rhode Island Licensed Lender; Washington Consumer Loan Company License No. CL-7706. Some products may not be available in all states. Advertised information, rates and pricing are subject to change without prior notice and may not be available at commitment or lock-in. This is not a commitment to lend. Other restrictions may apply. All rights reserved. © 2018 Home Point Financial Corporation.

www.homepointfinancial.com � NMLS# 7706

For a traditional pre-qualification, you’ll just need to bring some basic income documentation and be prepared for a credit check.

If you’re ready to go a step further, Home Point’s REALQual® Credit Approval program provides peace-of-mind for both buyers and sellers in the home buying process. It’s fast, simple, and free.

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Signed REALQual® Request Form

Federal Tax Returns for the Last 2 Years (all schedules, including any K-1s)

W-2s for the Last 2 Years

Pay Stubs for the Last Month (pay stubs need to include year-to-date totals)

Account Statements for theLast 2 Months (all numbered pages)

PRE-APPROVED

MORTGAGE LOAN

Get the Process Started Today

Here’s what you’ll need to get started with REALQual®: