What exactly is a home loan that is pre-approved?
Pre-approval means various things depending upon which lender you approach, however they all describe one thing comparable.
Whether it’s called conditional approval, indicative approval or approval in theory, pre-approval confirms that your particular application fits your selected lender’s requirements but stays susceptible to conditions.
It is really not an assurance of finance.
Ways to get pre-approved for the true mortgage loan?
There’s two main types of pre-approvals. Both need you to submit a complete application and supporting papers like payslips and bank reports.
What’s various may be the mortgage loan pre-approval process.