Pre-approval for mortage before deciding on med school

[mimi1]

I haven't decided yet on where I will be attending med school next fall, however I know that I want to try and buy a condo/house this summer close to where I'll be going to school. Therefore, I would like to get pre-approved for a mortgage. Is it necessary to know where I'm going to buy a place in order to get pre-approved? And what sort of time frame do I need to do this in? Is it okay to get pre-approved now, and then buy a place in 5 months or so?

I'm new to this, and so I have a lot of questions.

Thanks!

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[jojo88]

Many of the pre-approval's offered are only good for 60-days...once 60-days have passed, you need to get another credit check and the process of approval repeats itself. Also, it is good to know where (but not necesary) you want to live because different companies may offer different loans depending on the area.

 

[mimi1]

Thanks a lot! That's very helpful info!