Can I apply for a loan before I find a property to purchase?
Yes. Applying for a mortgage before you start house hunting can be a smart move. This process, known as pre-qualification, provides you with a letter that shows real estate agents and sellers you’re a serious, qualified buyer. Then, when you find the right home, you can reach out to your loan originator to finalize your application, lock in your interest rate, and move forward with processing.
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