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If pre-approved, you’ll get a conditional commitment by the lender for a specific loan amount. (When you apply for a mortgage, you’re applying for credit to purchase a specific property as well.) Mortgage prequalification: A smart place to start
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It tells you the interest rate your bank will charge for your loan, but also factors in any additional costs that you'll need to pay to get that rate-like mortgage (or.
Getting pre-approved and qualifying for a mortgage – Canada.ca – A lender may refuse to approve you for a mortgage. A lender could refuse you for a mortgage even if you’ve been pre-approved. Before a lender will approve your loan, they’ll want to verify that the property you want meets certain standards.
Learn about the mortgage prequalification process so you can get an idea of what your loan program might look like.. prequalify for mortgage, what is mortgage prequalification, Pre-qualification is neither pre-approval nor a commitment to lend; you must submit additional information for.
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