Fast & Easy Pre-approval Program

Know before you shop

Our pre-approval makes it easy.

Get pre-approved for a mortgage loan with Royal Credit Union, and you'll know just what your price range is before you shop.

more ways to own it

A mortgage loan pre-approval has a lot of upside. It will help you determine your price range before you and your real estate agent start to shop, and it can also help you identify any credit dings or dents now, so you can work to fix them. In addition, a pre-approval can make you a more attractive buyer, especially in a situation where there are multiple offers.

Once your offer is accepted, your loan will still need final approval based on the purchase agreement, appraisal, and underwriting, but a pre-approval will streamline this process as well.


Pre-approval or pre-qualification?

The difference between pre-approval and pre-qualification is in the validation of your information, and typically, a full pre-approval is your best bet.

  • Pre-qualification – you provide a lender with basic information on income and debt and the lender gives you a ballpark amount they may be willing to lend. Your financial information is not verified through credit report or other review so there is no certainty that the amount will be approved.
  • Pre-approval – you complete a mortgage application that is reviewed along with credit report and income verification. Because your financial information has been verified, the pre-approval process gives you a more accurate idea of how much you can borrow.


Getting Started

You're ready to buy a home, and we're ready to help! Contact a Mortgage Loan Officer to start your pre-approval.