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Category

😹
Fun
Transcript
00:00Make sure you're getting a pre-approval, not a pre-qualification. This is not general knowledge.
00:04A pre-approval actually underwrites you. A pre-qualification is you walking to the bank,
00:09they ask you how much you make, they ask you what your debts are, and they tell you what
00:13you can qualify for. There's not enough information in what you shared with them there
00:17for them to tell you that with any amount of confidence. We need to pull bank statements
00:21and pay stubs, tax returns, and the real estate that you already own and insurance policies.
00:26Pre-approving is that process. If you went to your lender and they didn't look at your credit,
00:30you did not get pre-approved, your realtor's not going to have a strong desire to work with you
00:35when you've been pre-qualified.
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