Pre Qualified vs Pre Approved

A pre-qualification and a pre-approval are NOT the same thing — and in this market, the difference matters.

Pre-qualified means a lender gave you an estimate based on information you provided.

Pre-approved means your income, assets, and credit have actually been verified.

One is a conversation.

The other is leverage.

If you’re serious about buying, especially in a competitive market, you want the one that makes sellers take you seriously and tells you exactly what you can afford.