Port Coquitlam Mortgage
Pre-Approval

When you begin the process of buying a home, there are many things to consider. Not only do you have to find a home that fits both your budget and needs, but you also have to obtain financing. This means that you have to begin the process of getting a mortgage loan. Many home buyers will start by getting pre-approved for a mortgage. However, before you get mortgage pre-approval, it is important to understand what this term actually means and how it is different from mortgage pre-qualification. Both of these terms are often used interchangeably, but they do not entail the same thing. This means that mortgage per-approval is not identical to mortgage pre-qualification. To gain a better understanding of the differences between the two, you need to learn what each term means.

 

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Pre-Approval Information

When you begin the process of buying a home, there are many things to consider. Not only do you have to find a home that fits both your budget and needs, but you also have to obtain financing. This means that you have to begin the process of getting a mortgage loan. Many home buyers will start by getting pre-approved for a mortgage. However, before you get mortgage pre-approval, it is important to understand what this term actually means and how it is different from mortgage pre-qualification. Both of these terms are often used interchangeably, but they do not entail the same thing. This means that mortgage per-approval is not identical to mortgage pre-qualification. To gain a better understanding of the differences between the two, you need to learn what each term means.

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