The Difference Between Being Pre-Qualified and Pre-Approved
Posted by Infinity Admin on
Purchasing a home can be confusing with all the different terms and requirements. Two steps involved in the mortgage process are pre-qualification and pre-approval. But what’s the difference between being pre-qualified and pre-approved?
Prospective homebuyers should consider getting pre-qualification at the onset of their home-buying process. It allows them to consider their budget and gain insight into their mortgage options.
Prospective homebuyers should consider getting pre-approval when they are more involved in the home-buying process, ideally within three months of the expected purchase date of their new home. It allows them to understand their financial position better and narrow their options.
Being Pre-Qualified
Getting…
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