Blog > What’s the Difference Between Pre-Qualification and Pre-Approval?
Pre-qualification is an initial estimate based on self-reported income and credit details, while pre-approval involves a lender verifying your documents, income, and credit score. Pre-approval carries much more weight in negotiations since it shows you’ve been financially vetted. In today’s competitive market, sellers often prioritize pre-approved buyers because it means fewer surprises and a higher chance of closing successfully.
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