Does Pre-Approval Guarantee a Loan..? No. Even if you receive a pre-approval letter from a lender you connected with, you may not get a loan from a lender and you are not guaranteed a specific rate or loan term. Regardless of pre-approval, a lender may require additional income and asset verification, as well as the…
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We recommend three to six months of expenses set aside for an emergency fund. If you have six months’ worth sitting in the bank and you took it down to three, you’d probably be okay. But if you spend it down to $2,000 and move into a new house, you’re asking for trouble. We’d love…
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Pre-qualification by a lender will help you.. ..determine the amount of mortgage you can afford, through an analysis that considers your income, debt, credit history and savings. After that, when you actually are ready to start making offers on homes for sale, you can seek preapproval from the lender of your choice (this is important…
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