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Getting
qualified before you apply for a loan can help you understand
how much you can borrow.
Pre-Qualification vs Pre-Approval:
There is a big difference between a pre-qualification
and a pre-approval. a "Pre-Qualification"
is not as strong as a pre-approval. You can typically
get pre-qualified over the phone or on the Internet
in a just few minutes. A pre-approval is a more rigorous
process which includes verification
of your credit, income, assets and liabilities. It is
highly recommended that you get pre-approved before
you start looking for a house. This
will help you:
- Find out the maximum house you
can buy, so you don't waste time looking
for properties you can not afford.
- Puts you in a stronger position
when you are negotiating with the seller, because
the seller knows that your loan is already approved.
- Helps you close quickly, since
your loan is already approved.
- In order to be preapproved
with a lender, you must submit a full application.
Request
A Free Consultation With Our Mortgage Specialist
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