confused on pre-qualify v. pre-approved

[alyssamarie]

Thanks everyone, that's reassuring. As for income, she just put down exactly what was on her w2, and she has no other monthly debts or anything so I don't think it should be too complicated to verfiy the information that we gave them.

So now the next step is getting a down payment!

[alyssamarie]

This post is a little old, but I just wanted to update that my parents closed on their house this past Friday! My mom didn't start rebuilding her credit until February of this year after a bk in 2010, so we were really happily surpised that she was able to get to this point in less than a year! 

[justrock]

Congrats to the family.  I closed Friday also along with someone else on the forum.  Must be a big rush this time of year to get loans closed for their year end totals!!!!

[ezdriver]

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@justrock wrote:

Congrats to the family.  I closed Friday also along with someone else on the forum.  Must be a big rush this time of year to get loans closed for their year end totals!!!!

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True that! The local division of the national builder for whom I work will be closing 92 transactions [four of them are mine] in the month of November!! November is the end of our fiscal year. It is also a great time to buy when companies are in their final push to seal those numbers for the fiscal year.