Inspection contingency Lending Pre-approval 
Redfin
JULY 9, 2025
Between setting a budget, getting pre-approved, and closing the deal, getting everything squared away can make all the difference. Get pre-approved for a mortgage Estimated time: 1-2 weeks A mortgage pre-approva l is a lender’s assessment of how much they’re willing to lend you based on your income, assets, debts, and credit history.
Redfin
MARCH 4, 2025
If the auction accepts financing, make sure you have a pre-approval ready. Short sales A short sale is not the same as a foreclosure or a pre-foreclosure. The homeowners lender must agree to the short sale and approve your offer. Most auctions require all-cash bids, so youll need to have enough funds to make the purchase.
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Rochester Real Estate
NOVEMBER 5, 2015
A mortgage lender will check your credit score and financial history to decide how much they can lend to you. A pre-approval letter must be included, and proof of funds can also help in a seller’s market. The seller might return with a counteroffer based on your offer’s price, contingencies, or other terms.
HomeLight
JUNE 9, 2023
Most real estate contracts — or roughly 80% — contain contingencies , according to data from the National Association of Realtors (NAR). As of 2023, 79% of contracts included an inspection contingency while 82% contained an appraisal contingency. What are the most common contingencies?
Point2Homes
DECEMBER 7, 2020
This should show you how much you can afford to spend on mortgage payments and reveal how much a bank is likely to lend to you. Getting Pre-Approved. It’s always advisable to get pre-approved for a mortgage in any home purchase so you can make sure that you can actually get the loan that you believe your income justifies.
Redfin
AUGUST 29, 2024
Debt-to-income ratio (DTI) Another major factor that a lender will consider when approving your mortgage loan is your debt-to-income ratio (DTI). Get pre-approved As you’re researching how to buy a house, you will want to get a mortgage pre-approval. What is a home inspection contingency?
HomeLight
MARCH 30, 2021
Pre-approval letters are usually good for 60 to 90 days, so don’t enter this stage until you’re serious about your home search. It’s in your best interest to shop around for good mortgage rates and terms prior to getting pre-approved.
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