Tuesday, August 10, 2021 / by Karri Bedor
In this crazy market, before you even begin to look at houses online or in person, you are going to want to get a pre-approval. So, what’s a pre-approval? According to Investopedia,
“a pre-approval is a preliminary evaluation of a potential borrower by a lender to determine whether they can be given a pre-qualification offer.”
Hmmm…what does that really mean? If you want to purchase a home, the seller needs to know that a lender has received enough information on the buyer’s finances indicating that the buyer is capable of obtaining financing for the pre-approved amount. This is based on the initial information the lender required.
Think of it this way, if you were selling your home, you would want to be assure; ...