Define the problem. With the information in front of you, you're ready to write down a problem statement - a comprehensive definition of the problem. Before you do, remember two general principles: Define the problem in terms of needs, and not solutions. If you define the problem in terms of possible solutions, you're closing the door to other, possibly more effective solutions.
What It Means. To be pre-approved for a mortgage means that a bank or lender has investigated your credit history and determined that you would be a suitable candidate for a mortgage.hat It Involves. Getting pre-approved is a somewhat lengthy process. But at the end of it all youâll know whether you can buy a home or not. The process starts before you even find a home. First, youâll need to go to a lender and complete a mortgage application and provide documents related to your financial history.
Pre-approval does not mean the bank guarantees you the loan. It just means that you're approved to get loan -- unless something goes wrong.Commitment to the loan generally comes after the bank has had the house in question appraised to make sure the price you're paying isn't higher than the home's market value.oan shopping is as intricate a process as house shopping, and the terminology is often confusing. The terms pre-qualification and pre-approval sound like the same thing, but they're not. And in fact, neither pre-qualification nor pre-approval means a bank actually has to give you the loan.