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Having a mortgage pre-approval signals to real-estate agents and home sellers that you are a reliable, serious, and attractive buyer.

Watson Capital Mortgage makes it easy, quick and efficient to fill out your online mortgage application.  Consulting with Watson Capital Mortgage and receiving a pre-approval letter for your mortgage loan is the first big step towards becoming a homeowner.

A mortgage pre-approval is a letter from Watson Capital Mortgage indicating the amount of loan you can qualify for.  Mortgage pre-approvals help create a loan outline that is best suited to you and your needs. After receiving a pre-approval letter, you can get a better sense of what loan options are available to you. In addition, you can prepare your finances for purchasing a new home.

Your pre-approval letter will detail:

  • purchase price
  • loan amount
  • interest rate
  • credit score

Having a mortgage pre-approval signals to real-estate agents and home sellers that you are a reliable, serious, and attractive buyer.


What is required to get pre-approved?

To get pre-approved for a mortgage, you’ll need five things—proof of assets and income, good credit, employment verification, driver’s license (or state issued ID), and social security number. We then run your file through our automated underwriting system (AUS) to validate loan conditional approval. If you plan on having a co-borrower, they must also provide all of the above.

What is the difference between pre-approval and pre-qualification?

A mortgage pre-qualification is based on your estimated credit score and other details you provide the lender, such as the purchase price of a home you would like to buy, your down payment, your monthly debts and how you would want to structure your loan (length, fixed- or adjustable-rate interest, and so on)

With a preapproval, you complete our full mortgage application with supporting documentation, The lender pulls your credit report and score and puts an offer in writing to give you a loan at a given interest rate.

How long are pre-approval letters good for?

Pre-approval letters are typically valid for up to 30-60 days. When you obtain a pre-approval letter, there will be a date on the top telling you when it expires. Underwriting guidelines typically require borrowers financials (ie: paystubs, bank statements) to stay updated within 30 days of close.

Why do pre-approval letters expire?

A pre-approval letter expires because we need to be up-to-date with your financial information. This includes your salary, assets, and debts. Two months is long enough for you to have left a job, taken on new debts, or spend what was in your account.

Keep in mind that even if you are pre-approved, it is likely that we will still want an updated set of pay stubs and bank statements around the time of closing.

*If  you or your co-borrower’s circumstances change regarding employment (job change, loss, hourly/salary reduction, etc.) please contact Watson Capital Mortgage immediately to notify.

What to do if my pre-approval expires.
If your initial commitment period has expired and you still haven’t found the right home, you’ll need to get an updated pre-approval letter from us. Bring us any updated pay stubs and bank statements. If nothing major has happened to your finances, you should be able to get a new pre-approval letter easily.


After receiving your preapproval letter and before finalizing your mortgage do not:

  • Take on new debt
  • Apply for a new loan or credit card
  • Make a large purchase
  • Co-sign
  • Make job change
  • Change employment status
  • Miss a payment on revolving debt

2950 Buskirk Ave Suite #300
Walnut Creek, Ca 94597
Office: (866) 434-1550
E-Fax: (888) 984-3511
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CA DRE Broker Lic #01785845
Company NMLS #2061728
CA Corporate License #4638041

Watson Capital Mortgage, Inc. is an independent mortgage brokerage company licensed to originate mortgage loans in the state of Califoria. Watson Capital Mortgage, Inc. supports Equal Housing Opportunity. Terms, interest rates, fees, promotions, and/or products listed above are subject to change or cancelation without notice and may or may not be available at the time of mortgage commitment or at the time of rate lock by either Watson Capital Mortgage or any third party company we work with.

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