A mortgage pre-approval is a written statement from a lender that signifies a home-buyers qualification for a specific home loan. Income, credit score, and debt are just some of the factors that go into the pre-approval process.

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Industry members claim that the turnaround time after loan sanctions through the portal has been long. “They can apply, they get in-principle approval. I have given written instructions to my.

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Mortgage pre-approval is an evaluation by a lender that determines if you would qualify for a home loan. It also shows how much the lender would be willing to lend you. Getting pre-approved is the first step towards getting a mortgage, but it does not guarantee a loan.

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Before you can get serious about buying a home, you need to get pre-approved for a mortgage. Learn what you need so you can speed up the approval process.