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  2. Prequalified vs. preapproved: What’s the difference? - AOL

    www.aol.com/finance/prequalified-vs-preapproved...

    When it comes to preapproval vs. prequalification, they have one major thing in common: They’re both indications from a mortgage lender that you are eligible for a mortgage.

  3. Mortgage prequalification vs. preapproval: How to time these ...

    www.aol.com/finance/mortgage-prequalification-vs...

    Preapproval: What it is and how it works. Preapproval is a much more comprehensive process than prequalification. Mortgage preapproval is a lender's conditional commitment to offer you a specific ...

  4. How to get preapproved for a mortgage - AOL

    www.aol.com/finance/preapproved-mortgage...

    Rate shopping: Getting preapproved with multiple lenders makes it easier to compare mortgage offers. Plus, it gives you an opportunity to find a lower mortgage rate (or bargain for one) that could ...

  5. Pre-approval - Wikipedia

    en.wikipedia.org/wiki/Pre-approval

    In lending, a pre-approval is the pre-qualification for a loan or mortgage of a certain value range. [1]For a general loan a lender, via public or proprietary information, feels that a potential borrower is completely credit-worthy enough for a certain credit product, and approaches the potential customer with a guarantee that should they want that product, they would be guaranteed to get it.

  6. Pre-qualification - Wikipedia

    en.wikipedia.org/wiki/Pre-qualification

    In a mortgage context, pre-qualification denotes a process that has not yet been underwritten by the lending institution. Typically, subprime lenders will allow 50% DTI. . Common monthly debts used for calculating DTI are mortgage (or new mortgage payment), auto payment(s), minimum credit card payment(s), student loans, and any other common monthly or revolving debt that is on the applicant's ...

  7. Loan origination - Wikipedia

    en.wikipedia.org/wiki/Loan_origination

    The mortgage business consists of a few people: the borrower, the lender, and sometimes the mortgage broker. The people that originate the loans are usually the mortgage broker or the lender. Depending if the borrower has credit worthiness, then he/she can be qualified for a loan. The norm qualifying FICO score is not a static number.

  8. What is conditional approval in a mortgage application? - AOL

    www.aol.com/finance/conditional-approval...

    Initial mortgage approval, often known as preapproval, is an early stage where the lender provides an estimate of what you may qualify for, based on a preliminary review of your income and credit ...

  9. Mortgage industry of the United States - Wikipedia

    en.wikipedia.org/wiki/Mortgage_industry_of_the...

    Investors in conforming loans, meanwhile, gain low-risk income at a higher interest rate (essentially the mortgage rate, minus the cuts of the bank and GSE) than they could gain from most other bonds. Securitization has grown rapidly in the last 10 years as a result of the wider dissemination of technology in the mortgage lending world.

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