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Getting a mortgage pre-approval letter is the first step in the home buying process. Learn what a pre-approval is and what you need to get one. 855-841-4663 email@example.com.. and income and you qualify for a loan up to a certain amount.
If a pre-approval is granted, the borrower will receive written documentation that reflects the maximum amount he is qualified to borrow, as well as the approximate mortgage interest rate..
Homebuying’s First Step: Pre-Approval for a Mortgage Loan – what type of mortgage options there are, etc. A lot of people make the mistake of thinking that pre-qualified means pre-approved, but this is not the case. Getting pre-qualified doesn’t mean the bank.
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Mortgage pre-qualification is an important first step for anyone who is considering buying a home and is unsure if they are financially ready. Our loan pre-qualification calculator will look at several factors and indicate whether you meet minimum requirements for a home loan as well as tell you the maximum amount that you can afford.
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A mortgage pre-approval is a written statement from a lender that signifies a home-buyers qualification for a specific home loan. Income, credit score, and debt are just some of the factors that go into the pre-approval process.
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