At Blaze, we ensure our members are set up to become successful homeowners from the very beginning of the home buying process. A pre-qualification is based on stated income and assets versus a pre-approval where a borrower's income and assets have been verified. For that reason, Realtors are more likely to accept an offer from someone who is pre-approved versus pre-qualified.
A pre-approval letter is only issued by Blaze after a thorough analysis has been completed to determine eligibility. This process includes a full review of a tri-merge credit report, verification of qualifying income and assets, and utilization of an automated underwriting system.
We ensure our members are educated on what to expect throughout the mortgage process to ensure a smooth transaction for all parties. Depending on the complexity of the application this letter can be issued within one to two business days of receiving documents.
Related Articles
To Buy or Not to Buy?
If you’re ready to change your living situation, you may be debating whether it’s better to rent or purchase your next home.
Mortgage Application Checklist
Applying for a mortgage takes a lot of documentation—prepare with this mortgage application checklist.
Buying a Home: Exploring Your Options
Explore your options for buying a home: first-time buyer benefits, best age to buy, building vs. buying, foreclosure auctions, buying with parents, and owner financing.