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Old 09-14-2011, 01:04 PM
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Default Mortgage Pre-Approval Question?

(First Time Home Buyer) Last week I spoke over the phone with a lender and gave him information such as , SSN, Birthday, Income and other things for pre approval. Today , I got a call back saying that I was Pre Approved; What exactly does this mean?? I thought that I would get a pre approval letter , but he says after Submitting other documentation such as Tax returns and bank statements that I would recieve a letter. Is this the usual steps taken? Im excited yet nervous that everything wont go right.
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Old 09-14-2011, 03:38 PM
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Is lender a bank? You need to complete an application (as with any loan request) and submit supporting documentation to get an approval. Don't count on anything yet.
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