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Pre-approved and pre-qualified

Posted on: 12th Dec, 2013 09:50 pm
Hello there... We are planning to buy our first home. We have saved around 10k down and also have a credit score of 700+ We have also paid off most of our debts. Will I have to get pre-approved and pre-qualified before I formally apply for a loan?
Welcome Guest,

Yes, you will have to get pre-approved and pre-qualified in order to get a mortgage. Unless you are pre-approved for the loan, the lender will not be able to quote you the rates.
Posted on: 12th Dec, 2013 10:18 pm
It was me above... Got logged out somehow!!
Posted on: 12th Dec, 2013 10:19 pm
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