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Not Getting Pre-qualified or Pre-approved


Not Getting Pre-qualified or Pre-approved

Many buyers fall victim to this common mistake. They find the perfect house, and then try to see if they can afford it. It’s a terrible disappointment to find the perfect house, only to learn they can’t afford the home or don’t qualify for the loan they need to purchase the home. When buyers get pre-qualified, it gives them a general idea of what price range they can afford. This is not to be confused with someone who has been pre-approved. Pre-approved means they’ve met with a lender, the lender has verified all of their information, and the lender has agreed to loan a specific amount.