What’s the distinction between a pre-approved and pre-qualified for mortgage loans?
|outcomes||A ballpark loan estimate||an initial credit review|
|Credit Check||No credit check||Does incorporate a credit check|
It’s not too difficult to obtain a page of pre-qualification. The entire process of securing a pre-qualification page typically involves calling up home financing loan provider and supplying these with some information that is financial.
A pre-approval, having said that, involves a preliminary credit check. Pre-approval provides you with a far better estimate of what a true home loan can look like for you. Continue reading Pre-Approved vs Pre-Qualified