Yes. Pre-approval for a mortgage loan
does not mean that a lender will approve financing for the purchase
of any particular piece of real estate.
It is wise to seek pre-approval for financing, as it will give a Buyer
an idea of what kind of real estate is reasonably available, but a lender
will need to review any contract and usually obtain an appraisal prior
to finally approving financing.
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The general opinions expressed herein are for information
purposes only and are not to be relied on. Individuals are encouraged
to seek legal advice as it relates to their specific fact scenario to
ensure they are fully aware of their legal rights and obligations.
