If you are pre. Approved for as loan is that a guarantee you will get loan

No, that's a prelim review of credit, assets and income.We do a full approval so when you find a house, we then just setup a closing date. You then can compete with cash buyers.

hi there: no one can guarantee funding to be upfront with you. At our bank, we ask for supporting income such as 2 yrs tax returns, current paystubs, current bank statements etc upfront at time of application. We then will pre-underwrite the loan matching the supporting income docs with the application you completed thru our automated u/writing engine. Once we have a conditional approval from the automated system and go into final u/writing with all conditions met, then with a clear to close, loan will be then ready for funding. Be glad to discuss further if you have questions. Lending Nationwide (NMLS 754875) Mike 703 505 5300

You can use that as an "estimate", but until a Full Underwriting is completed on your file, there can be no actual approval issued and in this case, it would typically be called a "Conditional Loan Approval" and that may have further conditions listed to be cleared before a final approval could be issued. Some mortgage professionals may be better at giving cients a more accurate tentative pre-approval than others, but in the end, all files must go through Underwriting to determine an actual approval. Good Luck!