Mortgage Basics 101: Pre-Approval vs. Pre-Qualification

When you start thinking about buying a home, one of the first terms you’ll come across is “pre-approval” or “pre-qualification.” While they sound similar, they’re actually very different.

Pre-qualification is a quick estimate of what you might qualify for, based on information you provide about your income, debts, and down payment. No documents are verified, and no credit check is done. Think of it as a ballpark number that helps you understand your range.

Pre-approval, on the other hand, is much more powerful. Your income, assets, and credit history are reviewed and verified. The lender provides a written commitment (with conditions) for how much they’re willing to lend you. Pre-approvals give you:

• More confidence when house-hunting 🏡

• A competitive edge with sellers

• A clearer idea of your budget and monthly payments

Bottom line: If you’re casually browsing listings, a pre-qualification can help you get your bearings.
But if you’re ready to start house hunting seriously? Get pre-approved. It makes your offer stronger—and shows you’re ready to roll.

Need help getting pre-approved (without the pressure)? Let’s chat. I make it easy.

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