A pre-approval is when a potential mortgage lender looks at your finances to find out the maximum amount they will lend you and what interest rate they will charge you.

With a pre-approval, you can:

  1. know the maximum amount of a mortgage you could qualify for
  2. estimate your mortgage payments
  3. lock in an interest rate for 60 to 120 days, depending on the lender

If you are not sure your buying power give me a call today to discuss your options!

 

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