5 Factors That May Impact Your Loan Pre-Approval
So you want to buy a house, first things first – ๐๐ฒ๐ ๐ฝ๐ฟ๐ฒ-๐ฎ๐ฝ๐ฝ๐ฟ๐ผ๐๐ฒ๐ฑ! ๐ฏ๐๐ฝ
Pre-approval means a lender has reviewed your finances and, based on factors like your income, debt, and credit history, theyโve determined how much youโre qualified to borrow. ๐ต๐ณ
Being pre-approved for a loan can give you clarity while planning your homebuying budget and confidence in your ability to secure a loan. A loan pre-approval letter is usually required when submitting an offer on a home.๐ฐ๐
These factors will impact your loan pre-approval: Income, Debt, Assets, Employment and Credit History. ๐ฆ๐งฎ
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