11/17/2021
▫️Put simply, mortgage pre-approval is important because it helps to take the pressure off your home search, helping to make it a stress-free, enjoyable and exciting process. ... Having a pre-approval letter assures sellers that you are a qualified buyer for the home you're considering buying.
➖ Preapproval is as close as you can get to confirming your creditworthiness without having a purchase contract in place. You will complete a mortgage application and the lender will verify the information you provide. They’ll also perform a credit check. If you’re preapproved, you’ll receive a preapproval letter, which is an offer (but not a commitment) to lend you a specific amount, good for 90 days.