Ask Rob · Mortgages and Financing
Pre-qualification versus pre-approval, what a pre-approval costs and how long it lasts, and the closing costs Georgia buyers actually pay.
Plan on roughly 2 to 4 percent of the purchase price in closing costs, plus prepaids such as property taxes and insurance. Georgia closings run through an attorney settlement, which is standard practice in the state.
Read the full answerMost lenders issue a pre-approval at no cost. The credit inquiry is typically a single hard pull, which matters less than the score itself.
Read the full answerMost letters are good for 60 to 90 days. Documents and credit profiles are re-verified before the rate lock and again before closing, so keep the file current.
Read the full answerA straightforward pre-approval can come back in one to three business days once the documents are in. Self-employed or complex income can take longer, so start before the search, not during it.
Read the full answerPre-qualification is a self-reported estimate. Pre-approval is a lender's written commitment after document review. Sellers in Gwinnett and North Georgia treat the second as real money and the first as a wish.
Read the full answerYour Situation
Your address, your numbers and your timing change the answer, which is what the call is for. No pressure, no obligation, straight answers either way.
Get market updates, buyer tips, and local insights delivered to your inbox.
Market updates, buyer tips, and local insights are headed to your inbox from Rob Dietrich.
