Disclosure - PLEASE READ AND APPROVE BELOW

Welcome to the Pre-approval process. Please take a moment to read the following Disclosure and Agreement.

Pre-approval, Purpose and Need

The Pre-approval process, not to be confused with Pre-qual (Pre-qualification) gathers info from the potential buyer. This info includes income, credit, assets and liabilities which are submitted to an Automated Underwriting Engine. Once this information is processed it will reveal the maximum price with which the potential buyer can base his or her home search on. This eliminates unnecessary previewing of homes not within the price range of the potential buyer. Further the listing agents responsibilities to the seller also requires that the offer being presented to the seller have the capability once accepted of coming to a successful close. Hence when a potential buyer is Pre-approved, a “Pre-approval Letter” is issued stating that the buyer does qualify to purchase the home the offered is being made on. The Pre-approval Letter normally accompanies the Home Purchase Contract.

Agreement and Disclosure

I/we hereby authorize to release any information concerning my/our credit, employment, bank account, mortgage(s) or rent payments to Quantum Advantage Mortgage, its employees, affiliates, successors and/or assigns. This authorization is given in connection to a mortgage loan necessary to effectuate the purchase of Real Estate. The information to be obtained will be used by Quantum Advantage Mortgage and any Federal agency insuring, guaranteeing or purchasing the resulting mortgage to determine whether you qualify as a prospective buyer under the lender’s and the agency’s underwriting standards. The information will not be disclosed outside the lender and the Federal agency without consent except to the person or company verifying the information including but not limited to your employer, bank, and any other credit reference as needed to verify other credit information as permitted by law.

Pre-approval and right to cancel. I/we understand that the right to cancel the resulting pre-approval may be requested by me/us at any time. Should I/we decide to cancel the Pre-approval prior to its use to purchase Real Estate, there shall be no fee. However, should I decide to cancel the Pre-approval that was used to secure an acceptance of an offer to Purchase Real Estate, I will be subject to a cancellation fee of 1% of the Offered Purchase Price for services rendered or any other fees as may be allowed by law. If I cancel my Pre-approval I will reimburse Quantum Advantage for all fees incurred on my behalf, all processing fees, and any other fee I have agreed to pay within 5 business days of the cancellation. There are never any up front fees associated with the processing of a Pre-approval.
By Checking this box I/we agree to the above disclosure.
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Protection from unauthorized access during the application entry process
Loan applications submitted by borrowers using this process are double protected by both a 128bit SSL connection on the page that loads the loan application program and by a 128bit SSL connection from the loan application program to the web services that load and save data.

Protection from unauthorized access while in our custody
Once in our custody, electronic access to the data is restricted to key personnel who develop and maintain the systems. We implement a hardware firewall solution that prevents direct access to any of the database servers from outside the building.