Mortgage Loan: Accepted or Refused?




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Christine Lemieux, accredited mortgage broker, lists the documents that buyers must submit when applying for a mortgage, and explains the criteria that mortgage lenders verify to determine whether or not to grant the requested loan.

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Amy Barratt  
( 91 weeks, 1 day ago)
It's very interesting, except, at the end when she starts out to explain the difference between pre-qualification and pre-authorization, she ends up repeating "pre-qualification" twice so we're left not knowing which one is "not worth much" and which one is very good.


Clarification:

Please note that in the final answer of this interview, the mortgage broker meant to say that with a pre-authorization (and not a pre-qualification) all of the client’s information is thoroughly checked. With a pre-authorization mortgage there is a credit bureau report and information such as employment history, cash down, etc., is carefully verified.


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