I pre-qualified for a mortgage loan ….?
What exactly does that mean for me? I want to buy a brand new building. I already spoke with the mortgage broker, fax all my pay stubs, W-2 and copies of my checking and savings account. He also drew on my credit file. I was never told how I qualified for, but I was told it is normal for the financing of a manufacturer. I must speak to the sales consultant for the owner and she told me that the broker was faxing his letter tomorrow pre-qualification. Is this all good news? I do not want to get even more excited for obvious reasons. I was told, the colors, carpets and everything I wanted in the house to choose. I felt bad all the time, because I know, do not know if I wasted no time sales force, if I wanted to get the loan or not. What are the chances I end up getting approved? Any experience this? All information that we are grateful, thank you! This is my first house, so I not familiar with this clock.