Purchase
A home is more than just a purchase, it’s the foundation of your future. At Murray Mortgage Solutions, we provide low rates, expert guidance, and a seamless process built around you. With full transparency and no unnecessary costs or delays, we ensure you secure the best financing with confidence. Visit our How to Apply page to learn more about our ClearPath™ application process.
PRE-QUALIFICATION
If you're still in the early stages of the home buying process or aren't sure how much you can afford, a Pre-Qualification is a great first step. Our Pre-Qualification process will help you determine the financial impact of the mortgage without the document gathering required for an official Pre-Approval. Below are the steps we’ll take to create a customized strategy unique to you.
✅ Run a soft credit inquiry to estimate your score and flag potential issues before Pre-Approval.
✅ Review income, assets, and liabilities to confirm mortgage eligibility.
✅ Analyze loan scenarios using debt-to-income and amortization tools to find the best loan type, term, and down payment.
✅ Estimate closing costs and how purchase price affects total cash to close.
✅ Compare loan options to determine the best fit for your goals.
PRE-APPROVAL
Regardless of whether you've purchased the home yet or are still searching, our Pre-Approval process ensures you're obtaining the lowest rate possible, understand your options and feel fully confident at the signing table. Below are the steps we’ll perform during the Pre-Approval process to create a customized strategy unique to you.
✅ Run a hard credit inquiry to obtain your FICO Tri-Merge score and verify all liabilities for mortgage qualification.
✅ Document income, assets, and liabilities to ensure they meet underwriting guidelines.
✅ Shop for the lowest interest rates and APR from multiple wholesale lenders.
✅ Process your loan through an Automated Underwriting System (AUS) for conditional approval.
✅ Analyze loan scenarios using debt-to-income and amortization tools to determine the best loan type, term, and down payment.
✅ Estimate closing costs and their impact on cash to close.
✅ Provide a Pre-Approval Letter stating your maximum qualifying purchase price for you and your Realtor.
FAQ
Will I pay a mortgage broker fee? The mortgage broker model is built around access to wholesale lending, which is specifically designed for brokers to be compensated by lenders, not borrowers, while still offering lower rates and fees to consumers. Unlike retail banks that set their own rates with built-in profit margins, wholesale lenders compete for broker business by offering more competitive pricing. This allows us to secure lower interest rates and reduced fees for you, while our compensation is typically covered by the lender. If a borrower-paid option ever makes sense in a specific scenario, we will disclose it upfront with full transparency, ensuring you always have control over your loan choices. Check out our "What is a Mortgage Broker?" article on our Insights page to learn more.
How much are closing costs? Closing costs vary depending on your loan type and scenario. At Murray Mortgage Solutions, we provide transparent cost breakdowns upfront so you can make an informed decision before moving forward.
Do you have access to local appraisers? Yes, regardless of where your property is located, we have access to local, experienced appraisers who understand the unique market conditions in your area. All of our Wholesale Lending Partners use an Appraisal Management Company (AMC), which selects a certified appraiser to provide an independent and objective valuation of the property. This helps ensure accurate valuations and a smoother loan process. If you have specific concerns about your appraisal, we are always available to guide you through the process.
Will applying impact my credit score? This depends on the type of application you choose. Quick Quotes are based on your estimated credit score and do not involve a credit pull. Custom Quotes and Pre-Qualifications use a soft credit pull, which has no impact on your score. Pre-Approvals require a hard credit pull, which may cause a small, temporary decrease, similar to applying for a credit card. However, multiple mortgage-related hard inquiries within a short period (usually 14 days) count as a single inquiry, minimizing the impact. If you're unsure which option is best, we’re happy to help. Visit our How to Apply page to learn more.
Appraisal vs Home Inspection? An appraisal determines the home's market value and is used by lenders to confirm the property’s worth in relation to the loan amount. A home inspection, on the other hand, thoroughly assesses the home’s condition to identify potential issues or necessary repairs. While home inspections typically aren’t a lender requirement for most mortgage types, they are highly recommended for buyers to make informed decisions. Also, some specific mortgage and/or property types require an inspection in addition to the appraisal. We will inform you of this in advance if applicable.
How do mortgage brokers differ from banks/retail lenders? The user experience with a Mortgage Broker and bank/retail is the same in many ways, you work directly with us and our loan officers, just as you would with the loan officers at a bank/retail lender. The key difference is where your loan is funded and how that impacts your options, rates, and costs. When you work with a bank or direct to consumer retail lender, you’re limited to that institution’s loan products, rates, and guidelines. As a Mortgage Broker, we still handle the entire process, but instead of using a single bank’s products, we access wholesale mortgage lenders that fund the loans. These lenders don’t work directly with consumers, they provide funding through brokers like Murray Mortgage Solutions, allowing for lower rates, reduced fees, and a wider range of loan options. So while the process may feel similar, working with a Mortgage Broker not only provides access to better rates and lower fees but also delivers a more personalized, flexible, and streamlined experience tailored to your needs. Visit our “What is a Mortgage Broker” article to learn more.
Explore Loan Options
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INSIGHTS
