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 heavenhack7
Joined: 05 Apr 2007
Posts: 75
1.14 Dollars($)
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 Posted: Fri Apr 13, 2007 8:16 am Post subject: mortgage prequalification, preapproval and final loan |
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What are the differences between;
mortgage prequalification,
preapproval
and final loan approval? |
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miller_st
Joined: 17 Jan 2007
Posts: 917
168.92 Dollars($)
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| Posted: Fri Apr 13, 2007 11:48 am Post subject: |
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Hi Heavenhack,
Getting pre qualified means that depending on the basic information you provide you may be offered a mortgage while for pre approval you have to submit a loan application to lender.
Please go through this page to know more about the difference between the two: Pre-Qualification and Pre-Approval
Miller |
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Christopher K
Guest
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| Posted: Fri Apr 13, 2007 2:31 pm Post subject: |
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| Quote: | What are the differences between;
mortgage prequalification,
preapproval
and final loan approval? |
After you get a pre approval converting it into final approval will depend on you getting the appraisal report, purchase contract and title information.
If all documents are ready then your loan will be approved and closing fixed.
Christopher |
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