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How to Estimate Mortgage Pre Approval.. a preapproval letter shows that you have been approved for a mortgage for a specific amount. However, preapproval is only valid for the length of time indicated.. Use an online mortgage calculator to get an estimate of the mortgage amount for which.
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The mortgage amount is based on the estimated value of the property once the work is completed, factoring in the cost of the work, according to the U.S. Department of Housing and Urban Development.
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Getting a mortgage pre-approval letter is the first step in the home buying process .. will be able to calculate the maximum loan amount you are approved for.
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How to estimate mortgage pre-approval Amount;. As a result, you could likely be preapproved for a mortgage that would require an estimated $1,400 per month once taxes and insurance were factored in, assuming your credit score and LTV ratio satisfied the lender.
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