4 - What is a Pre-Approval / Pre-Qualification?
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4 - What is a Pre-Approval / Pre-Qualification?
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Today we’ll be talking about what is a pre-approval or pre-qualification.
We’ll also talk about what kind of documentation you may need to get that letter.
Let’s start at the beginning, a pre-approval or pre-qualification are both letters that your loan officer will create that states how much of a loan you could be approved for. This letter is used while you are shopping for homes as well as when submitting offers on homes.
See detailed show notes about Pre-Qualifications vs Pre-Approvals and when you need one.
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If you know someone thinking about buying their first home, send them this episode. The more you understand the process before you start, the easier it is to make confident decisions when the right home comes along.
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