Pre-Approval Process


There are three easy ways to get pre-approved with ALCOVA Mortgage:


preapproval by phoneOver the phone
This is usually the easiest and quickest way to learn the price range that is right for you.

 

preapproval in personIn-person
Stop by a local ALCOVA branch to speak directly with a Loan Officer. It is always best to call and schedule an appointment so that you do not have to wait to speak with someone.

 

On our website
With our secure site you can take your time and send your online application to us for review.  Click here to complete your online application.

 

No matter which method of pre-approval you choose, gather the following information for each borrower on the mortgage loan.  Providing these documents to your Loan Officer upfront assures that your pre-approval will be based on the right information.  This will help to avoid any surprises during the loan process.

  1. Yearly gross income
  2. Total amount of liquid assets (including bank, stock, 401k accounts)
  3. Last 2 years job history
  4. Last 2 years residence history
  5. How much money can you afford as a down payment to secure a mortgage loan
  6. What type of payment range are you looking to stay in
  7. Any special circumstances in your credit past (be prepared to explain)

Upon review of this information, we’ll notify you of pre-approval for a specified loan amount.  We will not make a commitment to lend you the specified amount until we have verified your income, assets and other pertinent information provided during the pre-approval process.

Now that you have your pre-approval, you can begin house hunting.  Once you have an accepted contract to purchase, get back in touch with us to get the loan process started.