The Importance of Obtaining a Mortgage Pre-Approval
Posted by Richard Soto on
Before you begin looking at homes in your neighborhood or dreaming about the lovely Cape Cod on the corner, you must first find out whether owning a home is realistic at this point in your life. And to do this, you need to talk to a professional and get yourself preapproved for a home loan. A mortgage preapproval, which is done through a lender, is like a green light for buying your first home. It will determine whether your credit and income are sufficient for obtaining a home loan, and it will provide you with an accurate amount for which you can spend on a home. In short, a mortgage preapproval will arm you with the information you need to purchase a home. A mortgage preapproval, in addition to providing you with the information necessary for…
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