Why Having Underwritten Pre-Approval Will Get You Your Dream Home
What Is an Underwritten Pre-Approval?
An underwritten pre-approval (also called a full loan approval) goes several steps beyond a typical pre-qualification or pre-approval letter. Instead of just running your credit and glancing at your income, your lender gathers and verifies everything upfront—just like they would once you're under contract.
Think of it as doing the hard stuff first so you can compete like a cash buyer.
Why It Matters in a Competitive Market
In hot markets like Gig Harbor, homes don’t last long—and neither do your chances if your offer isn’t rock solid.
Here’s what actually happens behind the scenes:
The listing agent reviews your offer, then picks up the phone to call your lender. If that lender is a name they trust—and they can actually reach them on a Sunday night—that alone can move you to the top of the pile.
But if your financing sounds flimsy or your lender is some out-of-state call center? Your offer might not even be considered.
What the Underwriting Process Looks Like
Getting an underwritten pre-approval means your lender has already done all the heavy lifting before you find “the one.”
Here’s what that includes:
Full income and asset verification
Credit report pull + debt-to-income ratio analysis
Document review by an actual underwriter
Note: It doesn’t hurt your credit score, and the approval can be quickly refreshed if it expires—as long as your finances haven’t changed.
How an Underwritten Pre-Approval Strengthens Your Offer
When you're fully underwritten, you can:
Close faster—as few as 10 days in some cases
Provide sellers peace of mind—your financing is already solid
Compete with cash buyers—because you’ve already cleared the biggest hurdles
Waive financing contingencies (only if it makes strategic sense—we’ll guide you here)
You’ll also get a letter stating you’re fully underwritten and approved, which makes your offer stand out. Sellers love certainty—and this gives them exactly that.
Do You Need an Underwritten Pre-Approval to Buy in Gig Harbor?
Short answer: yes—if you want to compete.
In today’s market, this level of preparation isn’t just “nice to have.” It’s becoming standard practice in fast-moving areas like Gig Harbor, where buyers are often up against multiple offers.
And we’ve seen time and time again: the buyers who are fully underwritten are the ones who win.
Ready to Get Underwritten?
We’ll connect you with a trusted local lender who can get you fully underwritten fast—and who answers their phone on weekends. That kind of service matters when you’re competing for your dream home.
Here are a few of our go-to lending pros:
Megan Higgs – Hometown Lenders • (360) 731-3464
Ryan Johannes – Movement Mortgage • (425) 681-6475
Petros Christophilis – Cornerstone Lending • (206) 406-4690
Have questions or ready to start house hunting? Call us at (253) 313-4093 or email Paige at paige@askpaigeschulte.com
