Pre – Approval
This is when you submit a loan application and provide documentation about your income, employment, assets and debts. The lender reviews this
Gather financial information:
Choose a lender:
Submit a loan application:
Once you’ve chosen a lender, you’ll need to complete a loan application and provide the required financial documentation.
Get a pre-approval letter:
After the lender has reviewed your information and approved your loan, they’ll issue a pre-approval letter. This letter will state the amount you’re eligible to borrow and the terms of the loan. The pre-approval letter can give you a stronger bargaining position when making an offer on a home and demonstrate to the seller that you’re a serious buyer.
Pre-Approval Resources!
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