A lot of people ask me, “What is the difference between a pre-qualification and a pre-approval? Aren’t they the same thing?” The short answer is no. Whenever I work with a seller, I always recommend that they go with a pre-approved offer rather than a pre-qualified one. As a buyer, a pre-approval is much stronger and proves that you are serious about buying the home. If a buyer is pre-qualified, the lender has simply checked their credit score. A pre-qualification is a shortcut that means someone is going to look into your finances. Get pre-approved by a lender before you start looking at homes. If a buyer is pre-approved, the loan officer has checked everything about their financials. The loan officer will gather documents like tax returns and pay stubs, confirm your job, and run a complete credit check before issuing the pre-approval. Some lenders will even run your file through the underwriter. When you are buying a home, make sure you get pre-approved before you start looking at properties. Not only will your offer be more appealing to sellers, you will also know exactly what you can afford and what your monthly payments will be. Pre-approvals allow you to make the best, most informed decision when purchasing a home. If you have any questions, give me a call or send me an email. I would be happy to help you!