Mortgage Pre Approval Not Prequalification

by Sally from Eugene

Regarding Mortgage Pre Approval Not Prequalification: Want to jump to the front of the mortgage line? Get there with mortgage pre approval. Don't bother getting pre-qualified! Getting pre-qualified means the bank just takes your word on how much money you can pony up for a mortgage but doesn't verify that you actually have it!


If it can happen in ten minutes or less, it isn't much use. Getting mortgage pre approval on the other hand, means that the lender reviews all of your financial documents, verifies your credit, and is ready to make you a real mortgage offer!

This can be crucial when searching for homes, because the sellers know that all you have to do is pick up the phone, and your mortgage is assured! You also have the comfort of knowing that once you find the house of your dreams, your mortgage will already be waiting for you.

It is to your advantage to sit down and discuss your finances with a mortgage lender before you are under the pressure of competing for your dream house with other home buyers! Sally



Return from Mortgage Pre Approval Not Prequalification to Get Your Best Mortgage Rate

Click here to add a comment.

You can also ask Kate about your mortgage at Best Mortgage Advice Social Networking Hotline.

Recent Articles

  1. Lock Mortgage Rates - How To Avoid Hidden Fees

    Aug 06, 18 11:58 AM

    If you lock mortgage rates over the phone, how do you protect against excessive points and hidden closing costs? Learn what to do when your lock is threatened.

    Read More

  2. Finding Low Down Payment Mortgage Financing

    Aug 06, 18 11:53 AM

    Getting a low down payment mortgage: Learn the first two steps to financing niche properties in resort areas. Tip: It's not about timing the real estate market!

    Read More

  3. Ten Best Kept Secrets to Low Mortgage Payments

    Aug 06, 18 11:45 AM

    Ask Kate's secrets to low mortgage payments help homeowners understand industry lingo related to refinancing. Learn how to get your best mortgage rate!

    Read More