loanAn interesting question that I forget we should not assume that everyone knows the difference between pre-qualifying & pre-approval for a loan.  The basic difference is a:

  • Pre-qual is more of a verbal checking of information from a potential borrower..
  • & Pre-approval is actually receiving necessary documentation to back up all the verbal.

Hope this simplifies what the difference is when looking at which one means what.

 

1 Comments on What is the difference, Pre-qualification & Pre-approval for loans?

DEC
17
2007
 Christina - Great post!  Thanks for sharing this information.
4:49am • #1

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Christina ONeal ~ Ripon, California realtor

Ripon, CA

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Keller Williams Realty

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