The Mortgage Pre-Approval Myth: Why It's Time to Rethink the Process

Why does the real estate industry still cling to pre-approval letters, even when they often prove worthless? In this eye-opening video, Scott Einbinder questions the validity of pre-approvals and introduces a vital industry term: Automated Underwriting System (AUS).

The truth is, people don't approve mortgages; machines do. Lenders use systems like Loan Prospector (LP) and Desktop Underwriter (DU) to assess mortgage eligibility. The wait for pre-approval letters is unnecessary; you can have crucial information immediately if you approach the right lender. This approach ensures you negotiate with buyers who can genuinely close the deal, reducing risks for sellers.

Join us as we uncover another facet of the unique net dollar strategy. Subscribe for more insights on revolutionizing real estate practices. #RealEstate #PreApprovalMyth #MortgageProcess