Welcome to Elite Mortgage Source, Mortgage Lender in Cape Coral, FLWhere Every Client
is an Elite Client

Buying a home in SW Florida? Let the team at Elite Mortgage Source of Cape Coral get you prequalified for a mortgage loan so you will know IF you can buy and HOW MUCH of a mortgage you can qualify for so you can shop with confidence. Elite Mortgage Source is the best mortgage lender in Cape Coral, Florida and is committed to helping you find the right mortgage product for your needs.
Your new home is just around the corner!
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Welcome to Elite Mortgage Source, Mortgage Lender in Cape Coral, FLWhere Every Client
is an Elite Client

Buying a home in SW Florida? Let the team at Elite Mortgage Source of Cape Coral get you prequalified for a mortgage loan so you will know IF you can buy and HOW MUCH of a mortgage you can qualify for so you can shop with confidence. Elite Mortgage Source is the best mortgage lender in Cape Coral, Florida and is committed to helping you find the right mortgage product for your needs.
Your new home is just around the corner!

Preparing to Buy – Important Considerations

As you begin searching for a home, real estate agents and sellers want to see you’ve been working with a mortgage lender so they know you can afford to buy a home. After you’ve been prequalified, you’ll usually receive a “prequalification letter” you can show to an agent or seller as proof you’re working with a lender. This is a good first step, but it typically won’t carry as much weight as a preapproval because a lender hasn’t yet verified your information. Going beyond a prequalification and getting preapproved is a critical step to showing you’re serious about buying a home.

As you prepare to apply for a mortgage, you’ll come across terms like “prequalification” and “preapproval.” It’s essential to understand what these terms mean – they’ll guide your home search and help you focus on homes you can afford. When the time comes, they can also help you decide how much to offer and show the seller that you’re a serious buyer.

At the most basic level, prequalification and preapproval are types of mortgage approvals, and they refer to the steps a lender takes to verify that a client can afford a mortgage. In this article, we’ll review some common ways lenders use prequalification and preapproval. But first, a couple points to remember:

  • Every lender handles mortgage approvals differently. The steps and words involved change from lender to lender. Many lenders use prequalification and preapproval interchangeably.
  • No matter what type of mortgage approval you get, it’s not a guarantee that you’ll close the loan. Prequalification or preapproval is a way for a lender to help you and a seller estimate what you can afford. After you find a house and make an offer, the home will still need to be appraised by a third party and inspected for potential repairs before you can close the loan and buy the home.

A prequalification generally means that a lender collects some basic financial information from you to estimate how much house you can afford.

It’s common for a prequalification to rely on self-reported information, instead of verifying by pulling your credit report or reviewing financial documents. This means a prequalification is typically a ballpark estimate. It also means it’s less reliable than a preapproval, which usually involves your lender checking your credit score and reviewing bank statements and other documents.

Loan Center

Loan Center

Welcome to the Mortgage Loan Center! Are you looking to buy a home? Here you can use our online tools to learn more about home mortgage loans and find the best mortgage loan option to suit your needs and goals.
Elite Mortgage Source
products

Products

Elite Mortgage Source, LLC of Cape Coral offers a variety of mortgage loan programs. We work with the leading mortgage lenders in the industry to provide a mortgage that is tailored to meet your needs.
Elite Mortgage Source
resources

Resources

Here you will find a list of important links to other resources as you move along your home buying journey. All our forms are also listed here. Feel free to reach out to ask any questions. We look forward to the opportunity of being your mortgage loan lender.
ELITE MORTGAGE SOURCE

Don was so great to work with! This was my first individual home purchase, so I had so many questions but Don never made me feel like I was a bother. He’s quick to respond, very professional, and secured a mortgage loan that was a FULL POINT lower than I expected it would be. Highly recommend!

Chelsea Rollinger

Don at Elite Mortgage was great to work with. He was very professional and helped us work through the mortgage process to obtain our goal to purchase our retirement dream home! Thank you Don!

Janet England

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Equal Housing Lender
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Equal Housing Lender
Prequalify

Elite Mortgage Source, LLC
1616 Cape Coral Pkwy West, Unit 102 – #271
CAPE CORAL, FL 33914

don@elitemortgagesource.com
Ph: (239) 307-6300
Fax: (239) 673-7890
NMLS #1804247

Elite Mortgage Source

We understand that every borrower is different, and we offer a variety of products to meet your individual requirements. We make the process of securing a mortgage simple and straightforward by offering you the latest in financial tools that enable you to make sound financial choices.  We will even refer you to a local Realtor to work hand in hand with you to find your dream home. We service clients both locally in Cape Coral, Fort Myers, Bonita Springs, Estero, Naples, Alva, Punta Gorda, Port Charlotte as well as all other counties in Florida.

Prequalify

Elite Mortgage Source, LLC
1616 Cape Coral Pkwy West, Unit 102 – #271
CAPE CORAL, FL 33914

don@elitemortgagesource.com
Ph: (239) 307-6300
Fax: (239) 673-7890
NMLS #1804247

Elite Mortgage Source, LLC

We understand that every borrower is different, and we offer a variety of products to meet your individual requirements. We make the process of securing a mortgage simple and straightforward by offering you the latest in financial tools that enable you to make sound financial choices.  We will even refer you to a local Realtor to work hand in hand with you to find your dream home. We service clients both locally in Cape Coral, Fort Myers, Bonita Springs, Estero, Naples, Alva, Punta Gorda, Port Charlotte as well as all other counties in Florida.

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