Blog > What’s the Difference Between Pre-Approval and Pre-Qualification?
Pre-qualification is an initial estimate of how much a buyer might afford, based on self-reported financial information. Pre-approval is a verified step further—lenders review credit, income, and assets to issue a conditional approval. Sellers take pre-approved buyers more seriously because it shows financing has been reviewed and confirmed. In competitive markets, being pre-approved gives buyers a strong edge, often determining whose offer gets accepted. It’s one of the smartest first steps before starting a home search.
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