terms

Understanding Mortgage Terms: Pre-Qualified vs. Pre-Approved

When navigating the home buying process, understanding the difference between being pre-qualified and pre-approved for a mortgage can give you a significant advantage. Pre-qualification is often the first step, where you provide a lender with general financial information such as your income, assets, and debts. The lender then gives you an estimate of the mortgage amount you might qualify for. This...

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