Click Here for a Mortgage Application Click Here for a Pre-Qualification Request What’s the difference between a mortgage pre-qualification and a pre-approval? Both terms are used interchangeably, but they are actually quite different. A pre-qualification is simply verbal information taken over the phone or maybe online by your lender. They’ll ask about income, employment, and assets. A pre-qualification also includes a credit report. “ Don’t look at homes without a pre-approval. ” A pre-approval letter goes a step farther. Your loan professional collects all the documentation confirming your income, employment, assets, and credit report. The pre-approval helps you find the best products and pricing that will meet your needs. Don’t go looking for houses without the pre-approval. If you have any questions, give me a call or send me an email. I would be happy to help you!