Make sure that your approval holds water – or wind up drowning with debt. (picture: ThinkStock)
In cases where a loan provider informs you as possible be pre-approved in only a few momemts, you should stop and run into the other direction — fast. a genuine pre-approval involves a lot more than simply that loan application and credit file.
1. You’ve presented a software by having a loan provider.
You’ve authorized the financial institution to pull your credit history.
You’ve supplied all required supporting paperwork.
Lender has specifically reviewed all supporting documentation, together with your taxation statements and every little bit of monetary documentation. (more…)