Regardless of where one searches for a mortgage, the seven-step process is the same. Which of the following is NOT one of these steps?

Question

Quizplus · Accepted Answer

The seven-step process for obtaining a mortgage is typically as follows: 
1) Determine your budget 
2) Choose a type of mortgage 
3) Find a lender 
4) Submit an application 
5) Get pre-approved 
6) Track the mortgage until the deal is closed 
7) Check out interest rates and costs for the mortgage. "Get informal approval" is not typically a formal step in the process.

Regardless of Where One Searches for a Mortgage, the Seven-Step