Questions tagged “Mortgage approval”
Every answer on the desk tagged “Mortgage approval”.
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Question No. 005: Prequalification vs preapproval: what's the difference?
A prequalification is usually a quick estimate based on what you tell a lender. A preapproval usually means the lender has checked your credit and verified income and assets. Neither is…
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Question No. 004: Can I buy a house with a 620 credit score?
Yes. A 620 credit score clears FHA's 580 bar for 3.5% down, and many lenders will consider you for conventional and VA loans too. The catch is cost: at 620 you will usually pay a higher…