LoanShout Academy: How to Create a Preapproval Dashboard

LoanShout Academy
November 8, 2021

Today we're going to show you how to make a pre-approval dashboard inside of LoanShout. Preapproval dashboards are the simplest and easiest things to do inside of LoanShout, but they're also super useful. They are the first point of contact between you, your agent, and your client all together, so these dashboards are worth doing right.

A good pre-approval dashboard is going to help your agents make great offers without having to ask in the middle of the night what they should be putting on their financing exhibit, what your minimum appraisal contingency is, and how quickly you can close.

Remember that putting in an interest rate is optional. The interest rate is not intended to be a quote, but financing exhibits in some states require an agent to input an interest rate, so we have it as an option in order to give your agents all of the info they need.

Here is a step-by-step guide to a successful Preapproval Dashboard:

  1. Login to LoanShout.io
  2. Click the Start New Preapproval button.
  3. Enter all the pertinent borrower details and preapproval information.
  4. Enter the contact info for all possible interested parties. Clients, agents, coordinators, parents, spouses... everyone who could care.
  5. Click save.
  6. Upload a preapproval PDF, fee worksheet, or anything else that might be helpful.

Once you have saved the initial pre-approval everybody on the deal will receive an email with everyone else copied inviting them to view the preapproval. After that, everyone will receive an email when the preapproval is edited and also whenever a document is uploaded to the dashboard.

You can add additional parties to the pre-approval dashboard by clicking the Invite button or by clicking the Edit button. You can add as many parties and documents to a preapproval dashboard as needed.

When your clients go under contract, you can click Convert To deal in order to create a deal using their pre-approval information. Feel free to practice creating as many preapprovals as you want when you first set up your account: all plans have unlimited access to creating preapprovals.

Our next post will be about how to make a pre-approval dashboard work for you to help generate more referrals and to build trust with your referral network. It's not just about creating the preapproval dashboard itself: It’s the communication that you do on either side of it that shows how much you care, how invested you are, and how much you're making things happen for both your clients and also for your agents.Feel free to reach out with any questions about the best way to preapprove your clients!

Sean Grapevine
Sean Grapevine

Sean is the founder and CEO of LoanShout.

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