Alerts are a great way for you to stay up-to-date on things you care about. We will email you a list of the new items that match your criteria at a time of your choosing.
Lender rating
Since January 2009
If you have not had your income and assets verified then the pre approval could be worthless. An automated decision is only valid if the information used can be documented. If you have not provided full documentation the approval is worthless.
Just my .02
Lender rating
Since August 2009
Lender rating
Since January 2009
I assume you are purchasing. The preapproval has to do with an automated credit approval regarding your credit, income, debt ratio, etc and I agree with Bob that the approval is based on information you can validate. The other part of an approval is the property, and the underwriter will have to agree with the appraiser on the value. It sounds like you are in good shape and I would not sweat anything for now.
Lender rating
Since April 2009
Ask for a current conditional commitment letter, if a commitment letter isn't available. You will know exactly where you stand. Seeing this may make you feel better.
Lender rating
Since February 2009
You can rest when you get the commitment letter. Have you received? DU is good as long as your LO inputs and calculates everything correctly. The decision is only as good as the information that is input.
When you get the commitment letter, this means it has actually been reviewed by underwriting. They mean a lot more than a pre-approval letter.
Featured Rates are based on state rates for 30 year fixed loans and are valid for the date shown, but they may change without notice. They are for consumers with a credit rating of 720 or higher and a 20% or higher down payment. Rate, terms, pre-paid finance charges, and APR may vary based on factors such as creditworthiness of the applicant(s), self employment status of the applicant(s), condo or townhouse structure, loan amount, and geographic location of the property.
If a lender does not offer a national rate, a state rate may be shown next to the lender's name. For example, 'Bank name (CA)'.
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Pre-APPROVED for a mortgage
inkslinga
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