Mortgage loans in Hyderabad | Loans Paradise


Presentation Description

Mortgage loans in Hyderabad offer the borrowers with both pre-qualification letter and pre-approval letter. Check out which one is more important to get mortgage loan easily.


Presentation Transcript


Pre-approved or pre-qualification for mortgage loans: Which is more important?


Mortgage loans are secured loans. The surety given for the loan can be the house which the borrower is about to purchase or any other asset. There are lenders offering mortgage loans in Hyderabad giving pre-approved and pre-qualified letters, making the process much easier.


Pre-qualifying mortgage loan The pre-qualifying letter will only give the borrower an idea of how much of a loan they are qualified for.


It is based on the documents or information given to the lender, they will say if you are qualified or not. The amount given on the letter or at the time of inquiry is not the final amount, it will differ when the loan is approved. The financial status and other factors are not considered at this stage. No fees is charged for getting this letter


The interest rate charged is known beforehand, giving the borrower an idea of his overall payments. Few lenders charge a fee to get a pre-approved letter.


With either both of the letters in hand, the borrower can have some idea on the amount that he is qualified for. This will make it much easier to decide upon the house to buy.

Slide7: Email: [email protected]

authorStream Live Help