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How to get preapproved for a mortgage?
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1 Answers
Pre-Approval. When you are pre-approved for a mortgage, it means a lender has looked closely at your credit reports, your employment history, and your income ï¾ and has then determined which loan programs you qualify for, the maximum amount you can borrow and the interest rates you will be offered.
What is a wholesale mortgage lender?
Asked by unknown
1 Answers
A wholesale mortgage lender works with independent mortgage brokers and loan officers to originate loans. Brokers and loan officers work on the retail end with borrowers, and once they secure a deal, they send that deal to a wholesale mortgage lender for underwriting and processing.
What is a mortgage lender?
Asked by unknown
1 Answers
A lender is a financial institution that makes loans directly to you. A broker does not lend money. A broker finds a lender. A broker may work with many lenders. Whether you use a broker or a lender, you should always shop around for the best loan terms and the lowest interest rates and fees.