What is a full credit preapproval?

If there are any concerns with your loan approval, I highly advise that you ask your lender to submit your file for a fully underwritten credit approval. This gives everyone peace of mind that both the loan consultant and underwriter have reviewed your information. If you are self-employed, have multiple streams of income or have had a few job gaps in the last few years, definitely get the full credit approval.

See all 100 lessons in Six-Word Lessons to Take the Fear out of Mortgages.