Vol. 03 | What does getting a pre-approval letter mean?

What does getting a pre-approval letter mean?

Having a pre-approval letter does not mean you are guaranteed a mortgage. There is no sure thing in a pre-approval letter. This litter means that IF you were to get a mortgage this is what it could probably be for. Once you get an offer accepted then you would for forth with the mortgage application process in which that requires a lot of paperwork and time. There is no guarantee in a mortgage until you get a commitment letter.