mortgage pre-approval letter in-hand takes the stress out of house hunting. Instead of wasting your time looking at homes out of your price range—or worrying about whether you qualify for a mortgage at all—being pre-approved for a mortgage means you can conduct your home search confidently.

But not all mortgage pre-approvals are created equal.

Morty’s online pre-approval isn’t like the pre-approval offered by your local bank, or by that mortgage guy your dad knows. Here’s how we’re different:

The Morty Pre-Approval is Free for Borrowers

no fee to get pre-approval

Morty doesn’t charge borrowers to use our mortgage shopping or comparison tools, or to get pre-approved for a mortgage.  There’s no fee to build your financial profile on Morty or to pull your credit. For the grand total cost of zero dollars, you can check out potential mortgage offers, compare rates, pick a lender, and work with one of our Morty experts to manage the whole process, all the way to the closing table.

The Morty Pre-Approval is Quick and Easy

pre-approval makes home buying easy

If you have a pretty good handle on your current financial situation, you can complete your Morty profile in about fifteen minutes. And even if you need a few more minutes to round up some details (what is your co-borrower’s social security number, again?), completing the Morty profile is almost definitely quicker than filling out paperwork by hand at the local bank.

Once you’ve completed your profile, you can have an answer right away. There’s no waiting around a few days to see what some guy with a calculator in a back room says about your future. If you’re a qualified borrower, you can have a real pre-approval letter in-hand basically as soon as you hit ‘submit’.

It’ll probably take you longer to boot up the printer to get a hard copy of your pre-approval letter than it’ll take our algorithms to match you to a lender.

The Morty Pre-Approval is Accurate

pre-approval is accurate

Some mortgage brokers and lending institutions are a little bit fast-and-loose with the term ‘pre-approved’. While there are places that won’t officially pre-approve you for a mortgage until you’ve provided every scrap of financial data you can possibly imagine, there are other brokers and institutions that will happily tell you that you’re ‘pre-approved’ for a mortgage based on almost nothing. 

Financing surprises late in the game can seriously derail your home buying plans. If you’ve made an offer or put down earnest money and then suddenly can’t qualify for that mortgage, you’re not just going to miss out on the home you want. You could also be out some serious cash.

Morty’s pre-approval doesn’t use improvised figures to guess what lenders in our network might be willing to offer you. Morty collects the necessary information upfront. You can rest assured that unless your financial situation changes between when you apply for pre-approval and when you actually buy that home, your pre-approval should accurately reflect real programs (or eligibility for real offers) from lenders based on your real financial situation, right away. No guessing, and no surprises. 

We’ve Got Lots of Lenders, and We Do All the Legwork

pre-approval is easy

This is probably the biggest difference between so-called pre-approval for a mortgage at your local bank and pre-approval with Morty. With Morty, pre-approval gives you access to our entire network of lenders without any additional work on your part.

Getting pre-approved for a mortgage at your local bank means you’re pre-approved for a mortgage with just that one lender. If you wanted to compare rates with other lenders, you’d need to spend time and effort re-applying for pre-approval elsewhere.

You probably comparison shop for most of your everyday consumer purchases. Chances are good you wouldn’t buy shoes, airline tickets, or electronics without first checking the prices from a few vendors or companies. Why wouldn’t you check out multiple lenders for your mortgage?

No Phone Calls (Unless You Want to Talk)

pre-approval saves money

If you’ve looked at some of the other so-called mortgage rate-aggregator sites out there, you’ve probably experienced this:

First, you give them some cursory information. Your name, how much home you want to buy, your best guess as to your credit score, your email address, and your phone number. You click ‘next’ a few times, check boxes to indicate whether you’re buying a place or refinancing your existing one.

And then, a dead end: thanks for the info, kid. We’ll be in touch. Your inbox floods with ‘special offers’. Your phone starts ringing off the hook.

With a Morty pre-approval, you get all of the benefits of checking out lots of lenders, without the annoying sales calls. You can complete the entire Morty pre-approval process without picking up a phone. (Of course, if you have questions or need help, we’ve got real live human mortgage experts on standby.)

Want to Kick the Tires?

If you’re looking to buy a home soon, a pre-approval with Morty is simple. It’s free, it’s accurate, and it can save you a lot of time. Working with Morty, in general, can help you save serious money on your mortgage. Ready? Get started here.