Pre-Approval vs Pre-Qualification at Mortgage California - 11/17/09 07:17 PM
 
Pre-Approval vs Pre-Qualification A pre-qualification is an opinion rendered by a loan officer.  It typically comes after a loan officer meets with the customer, gathers information, runs the customer’s credit, analyzes income and asset information and formulates an educated opinion of the customer’s ability to obtain a loan. 
A pre-approval is obtained after the customer has completed a loan application, paid an application fee; the loan is processed and underwritten by a mortgage bank or depository bank.  The resulting approval is typically accompanied with “loan conditions” that when met, will result in the granting of a home loan.  It … (0 comments)

 
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John Balladares

San Mateo, CA

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Peoples Bank

Address: 1300 S El Camino Real, Suite 300, San Mateo, CA, 94402

Office Phone: (650) 571-5626 x 409

Cell Phone: (415) 806-2670

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