When making an offer on a property in the Orlando, FL area, the seller will usually want some sort of proof that you are able to buy it. If the seller is considering two offers, s/he will probably give more weight to the more qualified borrower.
A borrower that is pre-qualified has provided a mortgage broker or a lender with information about their income, expenses, assets and liabilities. A credit report may also be pulled.
Having been pre-qaulified by a lender does not put you in a stronger position than being pre-approved, better proof of your ability to buy the property.
For more info contact your mortgage broker who'll be able to help you with your loan needs.
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