Pre-Qualification vs Pre-Approved


Are you thinking about buying a home this spring or summer? If so, one of the first steps is getting pre-qualified or pre-approved for a mortgage. However, there are significant differences between the two. Here's a quick breakdown of the differences and how one option can give you more security when buying your home. I hope this helps you understand the mortgage process better.

Mortgage Pre-Qualification

​This is an approximation, not a promise. When you're pre-qualified for a mortgage, it means that a lender has reviewed your credit and that you most likely will qualify for a loan up to a certain amount. A pre-qualification helps you narrow down your price range and gives you an idea of what you can afford based on the information you provided your lender.

Mortgage Pre-Approval

You're ready to go when you're pre-approved for a loan. This means that you've been approved for a specific amount, and an underwriter has approved the amount. It's more secure than pre-qualification. If you're seriously in the market, a pre-approval letter will give sellers far more confidence in your offer than a pre-qualification letter.

I hope this breakdown helps you when you're looking for a home. If you need help finding a lender or are ready to start  your home search, I'm here to help.

What Are You Composing These Days?

April is Jazz Appreciation Month, culminating with a grand finale on April 30: International Jazz Day, formally declared by the United Nations back in 2012. Even if jazz isn’t among your favorite genres, I’ll bet some of those celebratory sounds speak to your soul.

Although there is some debate over the exact year jazz was born, most everyone can agree what makes it unique is all the different components which, when braided together, form one cohesive sound. The idea is not unlike being in a group of people who bring completely different ideas to the table, but ultimately collaborate to produce a great final product — jazz, in human form.

When you think about it that way, what are you composing these days?

If you’re not working on anything besides everyday life, consider this: April is the perfect month to start conceptualizing your next act, something you truly want to compose and revise until it sounds just right.

If we are to believe Arthur Schopenhauer, the German philosopher, who said, “Music is the food of soul,” then April is your time to feast on all the possibilities life has to offer.

Whether you choose to embark on a new branch in your career or revise your plan for the year, this beautiful month of blue skies, sandwiched between chilly March and May’s goodbye to spring, is ideal for planning. With three-quarters of the year left ahead of you, a world that is remembering how to thrive, and opportunities everywhere… April is practically beckoning you to craft harmonious, collaborative plans into your life.

Play on!