What loan amount should I get pre-approved for? Is it easy to change the loan amount?
Unless you have asked to be pre-approved for a certain amount, the lender will pre-approve you for the maximum loan amount for which you qualify based on your Debt to Income (DTI) ratio. This amount plus your available down payment equals the purchase price for which you qualify. At CapCenter, your real estate agent will use your pre-approval letter to establish a range of values for shopping purposes. When you make an offer we’ll make sure your preapproval letter reflects the price you are offering.
Get pre-approved in as little as 1 hour by applying on our fast and easy online application portal.