03/27/2026
🎓Real Estate Lingo Lesson! 🎓
Pre-Qualification, Pre-Approval, credit checks... what does this all mean?! Let's break it down👇🏻
First up? 💳 Credit checks.
Your credit score plays a role in your loan amount.
✅ Hard Credit Checks DO affect your score.
❌ Soft Credit Checks do NOT.
(More details in the photos!)
👍🏻 Pre-Qualification.
This is just a starting point and helps you explore your options. This process doesn't take long and will only do a soft credit check. Pre-Quals rely on information you provide (income verification, credit check, etc), and the information typically isn't looked at under a microscope. When you are done, you will be given a general idea of the loan amount you could qualify for. Side Note: Pre-Quals are something that can be done multiple times without affecting your credit score. Next steps: find an agent & move forward with getting pre-approved!
✅ Pre-Approval. This process is best started if you are serious about purchasing a home and are ready to move soon. You may or may not already have a specific home in mind, but you're ready to get there. During this process, you will submit an application to a mortgage company or bank, and you will need to provide lots of documentation (income history, W-2 information, identification, etc), plus a hard credit check will be conducted. If you get approved, you will be told, based on all the information you've provided and the lender's research, what your loan amount would be up to. Final result here? You're ready for the next step of purchasing a home: find that home and submit an offer! 🤩
🚨Reminder! Pre-Approvals can be done more than once, but multiple pre-approvals in a short time can put a red flag on your credit history and mark you as a high-risk customer, which we don't want. So use these wisely!
💬 Ready to start your search, or you don't know where to begin?
Comment "START" or send me a DM--I'm happy to help you map out your next move. 🏠
