The Lending Process
Pre-Qualification vs. Pre-Approval
They sound alike, but they’re not the same.
Pre-Qualification is an initial estimate of what you might be able to borrow based on information you provide — like income, debt, and assets. It’s quick, informal, and helps you understand your price range, but it’s not verified by the lender.
Pre-Approval, on the other hand, is the real deal. Your lender reviews and verifies your income, credit, and financial documents to issue an official letter showing exactly how much you’re approved to borrow. This gives you stronger buying power and shows sellers you’re a serious, ready buyer.
💡 Lauren Chambers of Flat Branch explains it best:
“Pre-qualification gives you a starting point. Pre-approval gives you the leverage to make it happen.”
Lauren Chambers
Senior Mortgage Banker
Flat Branch Home Loans
📞 816.585.6067
✉️ lchambers@fbhl.com
NMLS#1970343