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Archive - March 2020

Is a Mortgage Pre-Approval Right for Me?

Is a Mortgage Pre-Approval Right for Me?

Posted On: March 30, 2020 by Prevail Bank in: Home Loans

What is a Mortgage Pre-Approval?

A mortgage pre-approval qualifies you with the amount of available money you can borrow, including your monthly payment, and your interest rate.

This amount is typically subject to a property appraisal and other requirements. Mortgage pre-approvals are determined by a Mortgage Loan Originator who reviews your finances. This includes your debt, income amount, assets and credit history. Following the pre-approval evaluation, a letter is then provided...

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Tags: mortgage, mortgage pre-approval, Mortgage Tips

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