6 Key Reasons Why You NEED a Mortgage Pre-Approval
Posted by Kevin Klein on
Getting pre-approved for a mortgage is one of the first and most important steps in the home buying process. If you’ve been thinking about purchasing a new Edmonton home, here are six key reasons why you NEED a pre-approval before you begin your new home buying journey.
1. It’s Better Than a Pre-Qualification
While a mortgage pre-qualification is undoubtedly beneficial, it doesn’t carry the same clout as a mortgage pre-approval. Simply put, a pre-approval is a lender's commitment to loan you a certain amount for a mortgage based on your current financial situation.
However, during the pre-qualification process, a lender only takes a high-level view of your finances and provides a guestimate as to what they think they could lend you for a…
631 Views, 0 Comments