What is the difference between pre-qualification and pre-approval? Do I really need to do this?
Date: Tue, 08/16/2016 - 22:54
It is better to get pre
It is better to get pre-approved than pre-qualified. Pre-qualification is the initial step in which you get an idea about the mortgage amount you can qualify. The lenders assess it on the basis of your overall financial condition. Getting pre-approved means you get in writing for the exact loan amount you can take out from that lender so that you can search for a house within that price.