Frequently Asked Questions About Preapprovals

01/24/2022 01:10 PM By Cody Stevens

After applying for preapproval online, you will be asked to upload documentation to verify the information you submitted. Once you do that, one of our Gapital mortgage originators will verify your preapproval amount. You can then generate a verified preapproval letter to send to your real estate agent and/or submit with your offer.

How long does it take to get a preapproval letter?

For a verified mortgage preapproval letter, you will need to upload needed documentation such as W2s, paystubs, tax returns, and bank statements. Based on your individual criteria, we may require more documentation. You can upload all of it directly into our online portal, so it will only take a few minutes. Then, we will review them and generate your letter. We may require additional processing time if the documentation you submitted is incomplete or if we need to verify overtime, bonus, or commission earnings with your employer.

Does it cost anything to get preapproved?

No. We will provide you with a verified mortgage preapproval letter free of charge.

Is a hard credit pull required to get a verified pre-approval letter?

Yes. This helps us determine your exact FICO score and monthly debt obligations so we can be sure you qualify for a mortgage loan.

At Rezzy, we're all about keeping things human. We're here to make buying real estate a breeze and help folks grow their wealth through ownership.

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NMLS #2000303– Rezzy Mortgage is a registered DBA of Perci Inc. Rezzy Mortgage is a mortgage broker with its main office at 2770 W First Street, Suite 20, Prosper, TX 75078. Telephone Number (972) 777-9820. Loans made or arranged pursuant to a California Finance Lenders Law License. – Not available in all states.

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We will submit your loan application to a participating lender which we may from time to time contract upon such terms as you may request or a lender may require. In connection with this mortgage loan, we are generally acting as an independent contractor and not as your agent.

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The retail price we offer you – your interest rate, total points, and fees – will include our compensation. In some cases we may be paid all of our compensation by you or by the lender or investor. CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A COMPANY OR A RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV