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General Beata Wojtalik 16 Jan

Looking to buy a home? Learn more about the pre-approval process! 

The pre-approval process for a mortgage application involves several steps. First, the borrower must submit a mortgage application, which includes personal and financial information, such as income, assets, and credit history. 


Next, the lender will review the application and conduct a credit check to determine the borrower’s creditworthiness. 


If the lender determines that the borrower is a good candidate for a mortgage, they will then issue a pre-approval letter, which states the amount of the loan for which the borrower has been approved and the terms of the loan. 


The pre-approval letter can be used by the borrower to show that they are a serious and qualified buyer when making an offer on a property.


It is also important to note that the Pre-approval process may also include an assessment of the property value by the lender.


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