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Loan PreQualification

A loan prequalification is the first step in setting up your financing to purchase or refinance a current mortgage.

In today’s market, though, a loan prequalification is considered weak since it is very preliminary.

Better is to get a loan preapproval (pre-approval), which means that all of your documentation has been turned in with your loan application.

Please read on this site:  Why be pre-approved for a loan?