The mortgage process is known to be a very complicated on but its involves:
- Pre-approval
- House shopping
- Mortgage application
- Loan processing
- Underwriting
- Closing.
What occurs when a mortgage application is submitted?
When one has submitted papers for a mortgage, The lender will have to review your application and documentation and see if one qualifies.
They often check the property through the act of lender's valuation. and by the reviewing of your application and the result of the valuation, they will make final decision regarding if they will give you or not.
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