410-991-2191
info@atlanticprimemtg.com
Apply Now
Secure Doc Upload
Atlantic Prime Mortgage Logo

Annapolis Best of 2018    Annapolis Best of 2019   Best of Annapolis 2020    2020 Five Star Mortgage Professional

Questions? Call Us at
800-204-1283

Apply Now

David Jones

NMLS ID 213543

410-991-2191 info@atlanticprimemtg.com

Blog

Blog Image: What Is The Difference Between A Pre-Qualification & A Pre-Approval?

What Is The Difference Between A Pre-Qualification & A Pre-Approval?

One mistake that home buyers commonly make is not getting a pre-approval.  Many home buyers believe that a pre-qualification is the same as a pre-approval, which is not true.A mortgage pre-qualification can easily be defined as an estimation of how much a buyer can borrow.  In many cases a pre-qualification is only as good as the piece of paper that it’s written on.  It’s fairly common practice that a mortgage lender who pre-qualifies a buyer asks them for information such as income, debts, and other assets without verifying the information.  If a buyer is not t...

March 14th, 2017 | annapolis, brokers, buy new, credit, lenders, loans, mortgage, new home, real estate, refinance, pre approval, pre qualification, What Is The Difference Between A Pre-Qualification & A Pre-Approval?