First-time homebuyer

Pre-qualification vs. pre-approval: Explaining the difference

     
Pre-qualification vs. pre-approval: Explaining the difference

When you hear pre-qualification and pre-approval, you may think the terms are interchangeable, but they have different meanings when it comes to the home buying process. Here’s what you need to know to make these early steps of home financing easier to understand.

What’s a pre-qualification?

A pre-qualification is a best guess of what you can possibly afford. Because it’s often based off what you verbally tell your lender about your income, it may not always be reliable.

Continue reading Pre-qualification vs. pre-approval: Explaining the difference at Movement Mortgage Blog.

About the authors

With over 40 years combined lending experience, The Crawford Mortgage Team has the knowledge and commitment to assist with your home finance needs. We take a holistic approach that helps us understand how your home loan ties in with your overall financial goals. With state of the art technology and old fashion customer service we take the hassle out of the mortgage process.

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About Movement Mortgage

Movement has grown from a small team of 4 to over 4,000 employees with more than 500 locations across 46 states. Inc. Magazine recognized Movement Mortgage as the fastest-growing mortgage bank in the country.

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