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Lehigh Valley Mortgage Pre-Qualification versus Pre-Approval

Lehigh Valley Mortgage Pre-Qualification versus Pre-Approval

This is a discussion on Lehigh Valley Mortgage Pre-Qualification versus Pre-Approval within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; There is typically an interchange of terms when referring to a mortgage pre-qualification versus a mortgage pre-approval. It can definitely ...

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Mortgage Know-How A mortgage is the transfer of an interest in property (or the equivalent in law - a charge) to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower.

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09-12-2008, 05:36 AM

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Lehigh Valley Mortgage Pre-Qualification versus Pre-Approval

There is typically an interchange of terms when referring to a mortgage pre-qualification versus a mortgage pre-approval. It can definitely get confusing for Lehigh Valley Home Buyer's and Seller's. Here's the reason. ...

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