Pre-Qualify vs. Pre-Approve: What’s the Difference? Press centre

The mortgage procedure typically includes getting pre-qualified and/or pre-approved. They’re perhaps perhaps perhaps not exactly the same, plus in a market that is competitive knowing which to obtain may be the distinction between landing your perfect house and losing it to some other customer.

just just What Does it Mean to be Pre-Qualified?

Being pre-qualified means a lender has determined you’ll likely be authorized for the loan as much as a certain quantity, according to your overall situation that is financial. Continue reading