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hendersonjoanie · Joined: 15 Sep 2009 Posts: 1 1.29 Dollars($)

i received a letter in the mail stating that i am pre-appoved what do i do next? should i go to my local bank?are there any hidden fees or fees up front?

also are there limitations on how/what you spend the money on?
thank you for your time
Joanie

JKennedySLG · Posted: Tue Sep 15, 2009 8:08 am Post subject:

Your best bet would be to contact a local loan officer to go over your credit worthiness as well as income and debts. These are all factors in the loan approval process and will answer any questions you may have. I hope this helps...

gmakerley · Posted: Wed Sep 16, 2009 7:45 am Post subject:

the letter you got in the mail is probably based on fantasy and nothing more. that's not to say you wouldn't qualify, but you've undoubtedly received a promotional piece of mail from some lender trying to acquire your business. they do this "preapproval" thing all day every day.

as james has noted, if you visit one of your local lenders, you'll be able to discuss the options you may have with a loan officer. there you can have your credit checked and you'll be able to supply income and asset information that will be critical to your being approved for a loan.

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how do i initiate the loan process