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Direct Access To All Multiple
Listings Like Realtors®

(Prices and inventory current as of Nov 30, 1999)

See Pictures and updates (icon) See photos and updates from listings directly in your feed

Share with you friends (icon) Share your favorite listings with friends and family

Save your search (icon) Save your search and get new listings directly in your mailbox before everybody else

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Pre-Qualification Letter Vs Loan Commitment?|The Griffin Realty Group|Ask-A-Griffin Podcast #36

November 26, 2020 By: Danny Griffin Category: Agent Tip, Ask A Griffin Show, Buyer Tip

Pre-Qualification Letter Vs Loan Commitment?|The Griffin Realty Group|Ask-A-Griffin Podcast #36

A buyer should never assume that they are in the process of fully securing a mortgage commitment process until a lender explains all of the required steps. A Pre-approval letter simply means that the buyer’s personal financial capabilities are being vetted and seem to be in order at a certain purchase price level. However, a full mortgage loan commitment is not secure until all bank conditions have been met and the viability of the property as a bankable asset has been confirmed.