A mortgage pre-approval simply means that a lender has looked at your credit history, and based on the overall information they’ve gathered from your application (e.g., your employment history, income, source of down payment), they are potentially willing to extend a certain amount in the form of a mortgage. It is very important to note that a pre-approval is not a firm approval. It is based solely on information that has not yet been verified by documentation. Pre-approvals are obtained within two business days from application and are generally valid for 90 days. They are usually requested by your Realtor to begin the home-search process.
Contact us for a consultation to discuss your options and to begin your mortgage pre-approval process.
