Does a residence Loan Pre-Approval Letter Guarantee We Shall Get the mortgage?

Does a residence Loan Pre-Approval Letter Guarantee We Shall Get the mortgage?

Reader question: “My uncle who is an actual estate agent recommended that we have pre-approved for a mortgage before we venture out trying to find homes. But he didn’t go in to the details quite definitely. He simply stated that sellers won’t ‘give us enough time of day’ without having a loan provider page of some sort. My question, does the lender’s pre-approval letter guarantee we’re going to have the mortgage loan? I’m simply wondering if it is one thing well well worth celebrating. ”

Keep carefully the champagne on ice for the time being. Continue reading “Does a residence Loan Pre-Approval Letter Guarantee We Shall Get the mortgage?”