Respuesta :
According to a report, about 8% of home loan applications get denied, depending on the location.
How reliable is a pre-approval?
Pre-approved mortgage loan letters are considered more reliable evidence of home buyer mortgage qualification ability than mortgage pre-qualification letters. A mortgage pre-approval's reliability is also why home sellers and real estate agents prefer home buyers with them
Does pre-approval mean you are approved?
When a credit card offer mentions that you're pre-qualified or pre-approved, it typically means you meet the initial criteria required to become a cardholder. But you still need to apply and get approved.
Why is pre approval important?
Pre-approval means a lender has looked at your financial background and determined how much home you can afford. Getting pre-approved can also save you valuable time by identifying how much you can afford, so you can target your home search to your price level.
Learn more about pre-approval:
brainly.com/question/28223014
#SPJ4
