WHAT IS THE DIFFERENT BETWEEN BEING PRE-QUALIFIED AND PRE-APPROVED FOR A MORTGAGE.
Being pre-qualified is a very quick process based on telling a lender your income, and a brief synopsis of your bills and a credit check. If all those look good a lender would pre-qualify you. Pre-approval goes a little deeper into the process, an application is made and the lender makes sure that what you’ve presented is true, looks at check statements, sees W-2s, and is a deeper level of assurity that a person can purchase a home.