What is a Platinum Approval?
Neat turned the traditional mortgage process on its head with the Platinum Approval.
Previously, Flimsy Pre-Approvals Were the Norm.
These pre-approvals were basically a quick credit check to determine if you meet the minimum requirements for a mortgage.
Then you would take the pre-approval and make an offer on a home. If the offer was accepted, you would go under contract with a financial contingency. This means that the home will only be purchased if the borrower can get a mortgage.
But Sometimes, Things Don’t Go to Plan.
After weeks of waiting and dozens of back-and-forth calls with the mortgage provider, sometimes the borrower can’t secure a mortgage and the deal falls through.
Not only does this waste the time of the seller, but it results in another heartache for the buyer. Sellers know that this can happen, which is why a cash offer will beat a pre-approval every. single. time.
Sounds Messy Right? We Thought So Too.
This is why we came up with the Platinum Approval. In the first 24 hours of submitting an application, we underwrite your loan and give you a full approval. With your mortgage secured, you can make an offer on a home without a financial contingency- allowing you to go head to head with cash offers and win bidding wars.
We’re So Confident In Our Process, We’ll Back Up To $50,000 Of Your Earnest Money. Pretty Neat!
But Don’t Just Take Our Word for It- See How Our Platinum Approval Has Gotten Borrowers Their Dream Home.
FAQ
Is a Platinum Approval the same as a Pre-approval?
No, it’s better. A Platinum Approval does everything a pre-approval does, but it goes above and beyond. Now you can make an offer on a home without any financial contingencies, A.K.A a cash-like offer. That’s the power of a platinum!
How do I get a Platinum Approval?
Start an application here. It takes about 15 minutes to fill out. If you have any questions our team will be happy to help!
Can I get a Platinum Approval for all loan types?
Yep! Whether it’s a jumbo or an FHA, we got you covered.
How do you determine if I get a Platinum Approval?
We’ve spent years building our tech so that we can quickly sort through your financial situation and determine whether a mortgage makes sense for you. But the best part is, our process is completely transparent. Once you fill out an application, you can see what income and assets we’re using to qualify you. No more confusion, no more uncertainty.
Can I change how much I’m approved for?
Potentially! If something doesn’t feel right with your approval amount, hop on a call with one of our home loan advisors. You could potentially have hidden income streams, or you could explore adding a co-borrower.
I’m with another mortgage lender, but it’s taking forever. Is it too late to get a platinum?
We’re sorry you’re having problems on your home-buying journey. We may be able to jump in and help. We’re about 3x faster than traditional lenders, so if you’re having problems with your current provider give one of our home loan advisors a call ASAP.
I’m a real estate agent, how can I benefit from the Platinum Approval?
We love real estate agents! Before your borrower starts shopping, have them fill out a platinum application. In the event of a bidding war, it will give them a competitive edge.