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Do I need to Get preapproved or prequalified for a home loan?

Do I need to Get preapproved or prequalified for a home loan?

Despite sounding identical, a prequalified home loan just isn’t the identical to a preapproved mortgage. Prequalification is normally a fast, free procedure where a bank takes your economic information and shows you generally speaking exacltly what the loan can look like. Preapproval is clearly a followup process that is way more involved and sometimes costs cash. Continue reading