So, you’ve found a realtor and you want to search for your forever home, but the realtor asks for your pre-approval? First, what is a pre-approval, you ask? A mortgage pre-approval isn’t a promise that you’ll get a loan for the home you want to buy. A mortgage pre-approval only means a loan officer has looked at your finances—your income, debt, assets, and credit history—and determined how much money you can borrow, how much you could pay per month, and what your interest rate will be. In other words, it’s a quick way to see how much a lender is...

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