The collaboration between agents and loan officers is an essential part of the real estate process, but it can also be tricky and lead to plenty of back and forth.

Pre-Approve Me (PAM) was designed to simplify the role of loan officers throughout the pre-approval and underwriting process. It streamlines everything from the generation of the initial pre-approval letters to the collection of documents.

The features that make life easier for loan officers also help real estate agents leading clients through the home buying process. It simplifies almost all the communication between the agent, client, and loan officer and also helps clients feel comfortable as they go through the financing stage.

It’s available for Android or iOS devices, as well as on the web, so it works for any user.


Pre Approve Me App Creates Instant Pre-Approval Letters


One of the defining features of PAM is the ability for clients themselves to generate pre-approval letters without contacting a loan officer.

The officer can create a custom loan profile for each client, load it into the PAM app, and then the client can receive feedback and instantly generate a pre-approval letter for homes based on their financial profile.

As an agent, this means your clients won’t need to sit around and wait for pre-approval letters to be created and sent out. It also means there’s no downtime on nights or weekends when loan officers may not be available to generate the letter.

During the shopping process, this could potentially cut out any delays or wait time when submitting an offer on a home.


PAM Calculates DTI in Real Time


As part of the instant pre-approval letters, the PAM app will calculate a buyer’s DTI and show them their approval status based on the asking price of the home.

Buyers can use this to compare homes that they’re considering and see which ones will comfortably fit their budget and which ones may be out of reach. They can also test different scenarios to see how it may affect their approval status and budget.


PAM Tracks the Entire Loan Process in Real Time


Another main draw for the Pre-Approve Me app is the loan workflow view. This feature lets clients see the process unfold, piece by piece, and gives them a high-level view of where they stand in the loan process.

From the app, it’s possible to track each of the necessary steps and documents and watch the progress as the loan moves from pre-approval through to underwriting.

As an agent, this means you’ll have to spend less time playing middle-man and sending status updates to your clients. Instead, they can see the process in real time and stay up to date on their loan.


PAM Simplifies Loan Document Collection


Using the PAM app, clients can see requests for paperwork and securely send either photographs (converted into PDFs) or saved documents directly to the loan officer.

The officer can view, approve, or reject the documents and provide information back to the buyer. This saves agents from having to juggle paperwork and emails from multiple sources, and it also means there’s much less back-and-forth for the clients.


PAM Boosts Social Proof and Word-of-Mouth Referrals


The Pre Approve Me app also offers an option for homebuyers to share the milestones in their home buying process. They can post to social media as they are pre-approved for a loan or as their loan moves through underwriting.

Plus, it prompts them to include the name of their real estate agent and loan officer. This can lead to referrals and increased brand awareness for agents.


PAM Improves Transparency and Trust


Home buyers often feel stressed going through a loan approval process. Agents have the responsibility of facilitating communication and providing status updates all the way from the shopping phase on to closing (possibly beyond).

With the added transparency and improved communication, buyers can feel more at ease as their loan goes from one stage to the next.

For agents, this means their buyers feel more comfort and trust. Not only could this reduce the necessary communication for agents, but it can improve the overall quality of the experience for the buyer, which hopefully translates into more referrals.


Pricing and Packages


Pre-Approve Me app subscriptions should be purchased by loan officers and come at no additional cost to the real estate agent or their clients.


Packages start at $65/mo, but they also offer a free trial.


Regular package – $65/mo

Includes all the features and functionality outlined above, plus others not covered here.


Branded package – $250/mo

Supports up to five loan officers and adds functionality for custom branding throughout the app.


Enterprise package

Larger firms can request an enterprise quote, which includes high-level reporting and tracking for larger teams.


What Are Your Thoughts<M/h3>

Real Estate agents please use the comment bar below to let me know what you think of a tool like this, or if you have experience using it.