Pre-Qualification or Pre-Approval?
A pre-qualification consists of gathering verbal information about your income and monthly debt obligations. This will help show what kind of a housing payment you could be qualified for. During this stage your credit, income, and assets are not reviewed.
During a pre-approval credit will be pulled and reviewed. Your income and assets will be reviewed and sent to an automatic underwriting system and your information will be evaluated for your loan. Typically, a realtor will require a pre-approval before they start showing you homes. A pre-approval looks at the whole picture, so you can be a little more confident that it will be a little more accurate.
A pre-approval does not take long. It is a great place to start when looking for a home so you can learn what is in your budget, which believe it or not often surprises buyers. I have attached a secure link right below that will send your information right to me. I will look over your information and contact you as soon as possible!
Want to see if you can be pre-approved?
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