Does a residence Loan Pre-Approval Letter Guarantee We Shall Get the mortgage?

Does a residence Loan Pre-Approval Letter Guarantee We Shall Get the mortgage?

Reader question: “My uncle who’s a proper estate agent recommended that my family and I have pre-approved for a mortgage before we head out searching for homes. But he didn’t go in to the details greatly. He simply stated that sellers won’t ‘give us enough time of time’ without having a loan provider page of some type. My concern, does the lender’s pre-approval letter guarantee we’re going to have the mortgage? (more…)