What is a pre-qualification and is it the same as being pre-approved?
A. A pre-qualification indicates that you have provided all of the necessary information to your loan officer, either verbally or with documentation. The loan officer has calculated your qualifications and determined how much home you can afford. To be pre-approved you must complete a loan application, provide all necessary documentation and allow your Loan Officer to run your credit report. We will then submit your complete loan application package to the underwriter for a full credit approval. Q.
