What Is “Pre-Approval”?

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Buying a home can be a daunting task for anyone, especially for a first-time homebuyer. You should never feel silly about asking questions about the homebuying process. Coldwell Banker has a great video explaining what it means to be “pre-approved” for a mortgage. This may seem like a pretty basic question, but many potential homebuyers do not fully understand what is involved in pre-approval and what it may mean to their home search.