Details.
Rate's 5-minute pre-approval refers to an automated underwriting review of borrower submitted loan documentation and subsequent pre-approval. It does not suggest that Rate has fully funded or approved the borrower's mortgage application within 5 minutes. Rate cannot guarantee that a loan will be approved or that a closing will occur within a specific timeframe. Not all borrowers will be approved. Borrower's interest rate depends on the specific characteristics of the loan transaction, credit profile, and other criteria. Restrictions apply.