credit report: Why should you get pre-approved before you start to browse
- 03/04/11 03:07 AM
Getting pre-approved before you start your house hunt provides you with an edge over other prospective buyers, saves you time and can spare you the disappointment of falling in love with a home you cannot afford. First, there is a difference between being pre-qualified and pre-approved. Pre-qualification refers only to the amount for which you might expect to be approved, and is not an in-depth evaluation or your credit report.
Getting pre-approved is the next step and more involved, as a lender performs an extensive check on your financial background and current credit rating. The lender can tell you the … (0 comments)
Getting pre-approved before you start your house hunt provides you with an edge over other prospective buyers, saves you time and can spare you the disappointment of falling in love with a home you cannot afford. First, there is a difference between being pre-qualified and pre-approved. Pre-qualification refers only to the amount for which you might expect to be approved, and is not an in-depth evaluation or your credit report.
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