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What is a Mortgage Pre-Approval?

A mortgage pre-approval is a document issued by a lender that states their willingness to loan a borrower up to a certain amount of money for a house purchase. It's important to remember that a pre-approval letter isn't a guaranteed promise for a loan. but an essential first step.

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A mortgage pre-approval is a process done by a lender to assess a borrower's eligibility for a home loan. This includes a complete review of the borrower's financial information.

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