How long does it take to get pre-approved and fully approved?
A pre-approval normally will only take a few minutes. A full approval normally takes a few days as we need to wait for appraisal and title work to be completed.

How is the Loan & Mortgage Network different from banks?
The Loan & Mortgage Network has hundreds of sources for loans which provide the best rate and program for your financial need. Banks only offer their own product at their own rate.

How much does The Loan & Mortgage Network charge for all the services they provide?
This is the best part! In general the lender pays LMN for providing them the loan, not the borrower. The borrower only pays for traditional closing costs such as appraisal, abstract work, title opinion, credit report, and underwriting.

Sometimes a loan origination fee will be charged for loans that are difficult. Borrowers with credit issues such as collections, foreclosure, bankruptcy, or judgments may be charged for the extra time it takes to process these loans. These types of loans are virtually impossible to get approved at a bank because of their risk and/or difficulty.

Why should I get pre-approved before I start looking for a house?
Getting pre-approved is the smartest step you can take before you begin your search for your home. The most important reason is that sellers want to see a pre-approval with an offer to buy. It gives them confidence that they are not wasting their time taking the house off the market for someone who can not afford it. Realtors also like to see pre-approvals because they know which houses to show and it prevents wasting their time. Finally, it allows you to know how much house you can afford, preventing you from falling in love with a "dream" house which is out of reach.