requalification: Is It Better To Be Pre-Approved or Pre-Qualified?
- 11/30/22 07:52 AM
A new survey of home sellers found 86 percent of them preferred a buyer who's been pre-approved for a mortgage over one who's pre-qualified. That's the overwhelming majority and a clear indication that home shoppers should first get pre-approved for a loan before proceeding on their house hunt. But what's the difference anyway? Well, pre-approval requires a more thorough check of your finances than pre-qualification does. That means, you'll be asked to provide some documentation confirming your income, assets, debts, etc. It also includes a credit check. In other words, it's a more detailed look at your financial situation and gives home (3 comments)
My blogs are about helping home buyers ,home sellers and even home owners with new and old ideas to prepare them for either scenario. Being a Realtor in Oakland county Michigan is a fulfilling job and I'm very proud to share my knowledge and to learn from other as well.