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If you’re thinking about using your Realtor’s preferred lender, weigh these pros and cons. Pros. Smoother process: If your Realtor and lender have a level of trust and a solid history of ...
This reduces the total mortgage costs and makes you a better candidate for approval. Pros and cons of prequalification While getting prequalified for a mortgage can be a helpful step, there are ...
Dig deeper: Buying a new home in retirement: Pros, cons and weighing your options Preapproval: What it is and how it works Preapproval is a much more comprehensive process than prequalification.
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Even with preapproval, the process of getting approved for a mortgage might take several weeks, as the lender reviews your finances and the home as well, conducting an appraisal to determine its ...
This is why getting pre-approved for a mortgage is important. As a first-time buyer, it can be hard to know how much home you can afford. This is why getting pre-approved for a mortgage is important.
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