First time buyer mortgage question

So I went this past Feb to try and get pre-approved for a mortgage. DH had one late payment that was showing from 2011 and he said that we would have to wait a few months. So this Monday I call him again give him all my info over the phone and he said he's not going to waste time with a pre-approval. He told me to drop off all of my info etc and would take it to his underwriter to get a definite commitment. I am so nervous because there are a few houses I am already in love with and really want this to work, so my question is do you think that it's a good sign he wants to go straight for a commitment instead of a pre-approval, is that the norm? I really have no clue about this stuff but I am learning quickly lol He did say he thought it had a "good" chance of going through

Re: First time buyer mortgage question

The mortgage people I work with sometimes submit something for a commitment if they think the applicant may be borderline or there may be some red flags once it gets to an underwriter. The underwriter has the final say, no matter, what, so I think it's a great idea to get the underwriter's input at the outset. There'd be no point to getting a preapproval if ultimately you can't get a loan! And if there are still issues to be addressed, hopefully the underwriter can flag them so they can be fixed quickly. (Although I do think it's odd that one late payment would delay your preapproval, but I don't know the full set of facts, of course!).

If you do get a commitment, you will be in SUCH a strong position when making an offer. A seller's biggest fear is that a buyer won't be able to get financing, despite having a preapproval. But your offer, submitted with a full commitment, will be more akin to a cash offer. It will really strengthen your offer!