MORTGAGE PRE-QUALIFICATION VS PRE-APPROVAL….. there is a difference
One of the first steps in purchasing a new home is getting your financing in place. Getting a pre-approval from a lender will allow you to focus on the price range that is within your budget without spinning your wheels! Time well spent to get in the best buying position you can.
Not to be confused with a mortgage pre-qualification which is an initial assessment of a potential buyer. In general terms, when a lender pre-qualifies a buyer, they discuss the buyer’s credit, income and assets with them. When a lender pre-approves a buyer, they will have run the buyer’s actual credit and verify the buyer’s income and assets. That’s a major difference since agents and sellers view a pre-approval as a more firm start to the home-buying process.
Below are a few preferred lenders we have worked with previous buyers:
Contact our Preferred Lenders TODAY!!!