What is Pre-Approval?
- TOCR Real Estate School
- Mar 13, 2023
- 1 min read
The pre-approval process involves a potential lender or bank reviewing an individual's finances, including their income, assets, and credit history, to determine how much money can likely be borrowed.
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In order to evaluate how much money can likely be borrowed, a potential lender or bank will review a borrower's financial situation, including their income, assets, and credit history.
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You can look for a home more quickly if you have preapproval because it shows the seller that you are a serious buyer.
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