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Showing posts with the label mortgage pre-approval tips

How To Get Pre-approved For A Mortgage

Dreaming of your perfect home while browsing real estate listings is fun, but the real first step in buying a home begins with securing mortgage pre-approval. So, have you ever thought to yourself  how to get pre-approved for a mortgage ? Acquiring a mortgage per-approval helps decide how much you can borrow from a lender based on your financial credentials, giving you a realistic picture of your purchasing power.   As opposed to pre-qualification, which is based on self-reported information,  mortgage pre- approval   requires documented proof of income, credit, and assets. Once approved, you’ll receive a preapproval letter outlining the loan amount and type you qualify for. This letter shows sellers and real estate agents that you’re a serious buyer with confirmed financing options.   As pre-qualification is great for setting an initial budget, pre-approval strengthens your position in competitive housing markets.  Research lenders that align with your fin...