A fuller guide to this term is on the way. In the meantime, the related terms below explain the ideas around it.
Related Brickyard terms
- MortgageA loan used to buy a home, where the property itself acts as collateral the lender can take if you stop paying.
- Down PaymentThe upfront cash you pay toward a home's price, with the rest covered by your mortgage loan.
- Debt-to-Income Ratio (DTI)The share of your monthly income that goes to debt payments — a key number lenders check.
- Credit ScoreA number that sums up how you've handled borrowing, shaping the rates you're offered.
- Closing CostsThe fees paid to finalize a home purchase, covering things like appraisal, title work, and loan processing.
- Earnest MoneyA good-faith deposit you put down when making an offer to show a seller you are serious about buying.
Turn this into a brick
Knowing what Pre-Approval means is knowledge — the first half. A brick gets placed when you act on it.
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Plain-English education — not personalized legal, tax, or investment advice.