108: What’s The Difference Between Financial Pre-Qualification & Full Loan Approval?

You’ll often hear real estate agents ask if the buyer has been pre-approved. We should clarify that pre-approval is at the beginning of a full process of underwriting not only the buyer’s capability to borrow money and pay it back over time, but also a question of whether or not the property itself has enough appraised value to merit the loan. Never assume anything until underwriting gives a “clear-to-close.” 

GRAB OUR FREE COURSES

➡ 6 Steps To Home Buyer Success - http://griffinbuyercourse.com ➡ 7 Steps To Home Seller Plan - http://griffinsellercourse.com ➡ 8 Steps To Agent Success  - http://griffinagentcourse.com

SUBSCRIBE TO THE PODCAST

➡ Apple Podcasts: https://apple.co/2HGL5qI ➡ PocketCasts: https://pca.st/itunes/1498940561 ➡ Castro: https://castro.fm/itunes/149894056