What Happens When You Apply for a Mortgage?

What Happens When You Apply for a Mortgage? | Laraine Schwartz

When applying for a mortgage, what does “pre-approval” mean?

To begin the process of purchasing a home with a mortgage, the lender will typically provide a pre-approval letter before looking deeper into your financial situation. You first submit a short application to ascertain if you have sufficient funds to meet your monthly expenses including the mortgage, insurance and taxes, as well as other monthly charges.

Click here to read Laraine Schwartz's full article...