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Home > Forum > Chennai > Legal > Pre-approved vs. Pre-qualified Mortgage?

Pre-approved vs. Pre-qualified Mortgage?

Q: What is Pre-approved vs. Pre-qualified Mortgage?

pre-approved vs. pre-qualified mortgage
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Chennai Legal Legal in Chennai
Replies (3)
1
mortgage loan common in financial institutions.. relient documents of the property land /building .income proof, EMI repayment on monthly basis.its required to apply all this documents to submit. banks will provides you more details.
nayeem


2
mortgage loan common in financial institutions.. relient documents of the property land /building .income proof, EMI repayment on monthly basis.its required to apply all this documents to submit. banks will provides you more details.
nayeem


3
Pre-qualified mortgage is just the amount for which you might expect to be approved. After evaluating your income, age, repayment capacity a lender can give you an idea of the mortgage amount for which you qualify. Pre-approved mortgage is principle sanction given by a bank for a particular loan amount. Getting a loan pre-approved will help you to target a house that is within your budget.
Mahi garg


4

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