The Difference Between Pre-Approved and Pre-Qualified

What’s the difference between being pre-qualified and pre-approved? When you’re pre-qualified, the lender is going off the information you’ve told them: your name, social security number, income, your bank account resources, etc., and they pull your credit score. Being pre-approved means the lender has verified all your information and looked at your documents such as tax returns, bank statements, and W2s. What you truly want is a pre-approval because it proves you’re legitimately qualified for a loan. To hear my full message about these differences, watch this short video.

Learn more: https://tmgvideoblog.com/the-difference-between-pre-approved-and-pre-qualified.html