Is it normal for mortgage lenders to ask for appraisal and other fees prior to indicating whether or not the customer qualifies for the mortgage? The middle FICO mortgage score between my husband and me is 627. Most of the banks in my area are asking for a 640 minimum, so I decided to try to get an approval from an online lender. I first tried Rocket Mortgage from Quicken. Instead of the 8 minutes they say it should take, I spent 8 hours going back and forth by email with one of their employees, who seemed very interested in the amount of money I could come up with for closing, but she never once said whether or not we could even be approved with our scores. I thought that was odd. I then went to Guaranteed Rate, and they are asking for an appraisal to be done before they will submit the file for underwriting. Maybe it's just me, but I think having an appraisal done first would be a waste of time, money and effort if I can't actually get approved for a mortgage.
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