what determines a mortgage pre approval
Mortgage pre-approval involves the same steps as a mortgage application-you'll provide detailed information about your income and assets that will be reviewed by the lender's underwriters.If approved, you'll get a commitment by the lender for a specific loan amount.When you apply for a mortgage, you're applying for credit to purchase a specific property as well.). Pre-approval shows you have the resources to make the purchase and it helps you act quickly when you find the perfect home.