Both are good, but you have more heft compared to other
Pre-qualified vs. Preapproved: A Synopsis
You’ve probably heard that you need to pre-qualify or be preapproved for a home loan if you’re looking to buy home. They are two key actions in the home loan application procedure. Some individuals make use of the terms interchangeably, but you can find essential distinctions that each homebuyer should understand.
Pre-qualifying is simply the initial step. It provides you a basic concept of how big a loan you’ll likely qualify for. Preapproval may be the 2nd action, a conditional dedication to really give you the home loan. Continue reading article