Additional Links: Educate Yourself | Get Pre-Qualified | Get Pre-Approved | Get Approved
Once you have finalized a purchase contract you will need to update your application with the property information. This will allow your lender to analyze the property and give you a final approval. This step is important to you because a lender will require that an appraiser inspects and estimates the value of the property. This way, both you and the lender will know whether the purchase price set in the contract is accurate.