FAQ
What is the difference between Prequalification and Preapproval?
Prequalification is an opinion of a borrower’s hypothethical ability to afford a home using unverified data provided by the borrower.
Preapproval is a powerful homebuying tool that involves the execution of a loan application, lender verification of data and evaluation by an underwriter. Preapproval confirms that the borrower is ready to close, contingent only upon a valid property sale contract, suitable appraisal and final underwriting verification. Read more…
