|
Pre-Qualified: A lender has taken basic information from you and has given you an amount that you should be able to borrow. It is the first step that should be taken when you are ready to shop for Real Estate.
Pre-Approved: A lender has run a credit check and completed the loan process. The lender is stating "Your money is waiting for you."
Why do it before you shop? It strengthens your offer to purchase. The Home Seller can see where the funds are coming from and is more likely to accept your offer. Time is critical if you love a home. While you are trying to get approved, someone else will submit a pre-approved offer and steal your home from you.
If you are gonna' Buy - Why not Apply :~)
For more information, Click this link for Real Estate Tips and select information for Buyers. The tips will be automatically emailed to you. | 
