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Mortgage Professor about pre qualification: | |||||||||||||||||||||||
Mortgage Qualification Versus Mortgage Approval
April 5, 1999 "If we shop around for a mortgage and become qualified, is there a time limit on how long we can hold the lender to the qualification?" Lenders do not commit themselves to anything when they qualify a potential borrower. Hence, there ... more... Can a Mortgage Broker Guarantee the Rate? March 5, 2001 "I have read your columns on price quotes from mortgage brokers, and understand the point that these quotes are not firm until they are locked with a lender. However, does that change if the broker ?guarantees? a certain rate, or ?preapproves? me at a certain ... more... |
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pre qualification related definitions |
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Closing Costs
Closing Costs Expenses incurred by the buyer and seller in a real estate or mortgage transaction. There are two types of costs: recurring and non recurring. Non-recurring costs are one time transactional costs ... more... Settlement Costs, Closing Costs Settlement Costs, Closing Costs Expenses incurred by the buyer and seller in a real estate or mortgage transaction. There are two types of costs: recurring and non recurring. Non-recurring costs are one time ... more... |
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