Step 2 – Get Pre-Approved for a Loan

There is a difference between getting pre-approved for a loan and applying for a loan. Pre-approval is an informal process that does not cost you money and it allows you to make sure that a bank will actually consider lending you money.

Applying for a loan is a formal process. There is a fee associated with making a loan application and there are no refunds.

Use the Loan Comparison Worksheet to evaluate the different types of loans which may be proposed to you.