txfirstimebuyer: First Time Home Buyers: Pre-Qualify vs Pre-Approval - 02/14/17 06:53 AM
Today's market can be challenging for a home buyer. 
In a conversation with another Realtor, they mentioned difficulty having their buyer's offer accepted. Being the first one to view the home and submit an offer may work in some instances, but other offers were accepted.  This pattern continued and I suggested that the buyer revisit with the lender. The buyer needed to move from pre-qualify to pre-approved.  What is the difference?  
Pre-qualify - The lender has received a mortgage loan application from the borrower. A review of credit scores has been completed by the loan officer.
Verbally, the borrower has provided the lender with … (3 comments)