michaelgg2150 michaelgg2150
  • 19-03-2020
  • Business
contestada

Mortgage preapproval means a lender has agreed to loan you a set amount of money as long as you meet certain conditions.

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roydscott roydscott
  • 19-03-2020

Answer: True,

Preapproval is when the lender guarantees to loan you a set amount of money, so long as you meet certain conditions and the home meets their requirements.

To be pre-approved for a mortgage means that a bank or lender has investigated your credit history and determined that you would be a suitable candidate for a mortgage.

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