Pre-approval requires a more extensive look into your personal finances than pre-qualification, typically including a hard credit check and requesting proof of income.

A mortgage preapproval ... how big of a loan you could qualify for and how much you could end up paying each month on your mortgage payment. Having a preapproval letter when you shop for homes ...

Remember that a pre-approval is not a legally binding loan agreement ... in a pre-approval letter to show home sellers. Clay Jarvis is NerdWallet Canada's mortgage expert and spokesperson.

You only need one mortgage preapproval letter to shop for homes ... that you can start preparing to close on the loan. After a lengthy approval process, you're finally nearing the finish line.

Learn what you need to speed up the approval process Mortgage lenders offer pre-approval letters to buyers they believe can repay their loans. However, unlike mortgage pre-qualification, the pre ...