Pre-approval vs. Pre-qualification

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Pre-approval and pre-qualification are terms commonly used in the context of mortgage loans, but they can also apply to other types of loans. While they sound similar, they have different meanings and implications in the loan application process:

  1. Pre-qualification:

    • Definition: Pre-qualification is a preliminary assessment of a borrower’s financial ...
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Understanding the Jumbo Mortgage and Why Refinancing is Different

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The contemporary trend towards expansive dimensions is palpable in various aspects of modern life. Oversized soft drinks, large fast-food meals, and expansive smartphones have become ubiquitous. However, one unlikely sector experiencing a similar trend is the realm of mortgages.

Delving into the specifics, what exactly constitutes a jumbo ...

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