Blog > What’s the Difference Between a Pre-Qualification and Pre-Approval?

What’s the Difference Between a Pre-Qualification and Pre-Approval?

by Gordon Hageman

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Pre-qualification gives a general estimate of what a buyer can afford based on self-reported information. Pre-approval is a verified process where the lender reviews income, credit, and documentation. Pre-approval carries more weight when submitting offers, showing sellers the buyer is financially ready. In competitive markets, being pre-approved can make the difference between accepted and overlooked.

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Gordon Hageman

Gordon Hageman

+1(480) 498-3334

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