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What is pre-approval for a mortgage?

April 26, 2017mortgage pre-approval

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What is pre-approval for a mortgage?

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You are pre-approved when you have actually applied for a mortgage, received your credit report, filled out your application, etc. Employment and income have been verified, making a seller more confident in your ability to close on the home. This is the ideal situation. If you want the smoothest possible home-buying experience, I recommend that you spend some time getting pre-approved, rather than just pre-qualified. Please give me a call if you’d like more help on this subject.