11/25/2024
Here’s a fun financing fact for you:
Mortgage pre-qualification and mortgage pre-approval are completely different things!
It’s a real shocker, we know ;)
Regarding pre-qualification, applicants provide information to the lender that supports their ability to pay their bills consistently and on time. This can include income, employment status, debts, credit scores, etc.
While this information is usually enough to pre-qualify the applicant for a mortgage, it is not yet verified. This means that the applicant is not yet approved, and additional information could disqualify them from applying.
To prevent this, we encourage you to go after pre-approval. Get your information verified first and spare yourself from the hassle!
Leave a comment down below or send us a message if you have any questions or need assistance navigating the lending process — we’re more than happy to help :)