How long does it take to get pre-approved for a home loan?
Oddly enough he told me how much my payments would be a month....is that a good sign?
How do they verify your income if it is social security? Do they go off the letter of award that I got from social security?
So..how long till I know if I am pre-approved?
I am guessing now that it is not a pre-approval, because he asked for all my verification forms to be faxed to him today. (Income and banking statements from my current bank.) I think he pre-approved me based on my waiting an 80/20 loan and having a credit score of 589. And I am sure that he said that he would call me to tell me if I was approved or not...so even if I was denied he would call me. My current bank says I am fine and should get a loan.