Pre-approval, Glossary and Terms, Mortgage Brokers, Banks US

U.S Mortgage Brokers Mortgage Brokers, Banks US, Rate, Review, Remortgage

"Pre-approval"

A commitment by a lender to make a mortgage loan to a specified borrower, prior to the identification of a specific property. It is designed to make it easier to shop for a house. Unlike a pre-qualification, the lender checks the applicant's credit. See Mortgage Qualification Versus Mortgage Pre-Approval, Mortgage Pre-Approval: What Is It Good For? and Mortgage Pre-Approvals In a Tight Market.

Mortgage glossary and terms by letter

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