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Mortgage Glossary

Below is an A-Z glossary of general terms used within the mortgage industry. Click on any term to view a detailed explanation. Use the alphabet below to navigate quickly to a term beginning with:

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Pre-Approval

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A document that is given by the lender to the borrower to show that they have already, in principle, approved the loan based on the information received. This is often used as a negotiation tool by the buyer as they can prove that they have the necessary financing.

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