What is Mortgage Pre Approval Really Worth?

A hot real estate market led many institutions to put through loans that should never have been allowed to get past the initial examination! However it is a cycle that can lead to some injudicious decisions – people want to buy homes, realtors don’t want to show homes to unqualified people, people go to lenders for pre approval… it is a nasty cycle that ends up with a lot of time wasted and sometimes a significant amount of money. buy home equity loan It also set up unreasonable expectations on the part of the buyers – “I got pre approved and now I’m not approved at all?” which could very well have led many of them to less scrupulous lenders.