Posted on: 10th Sep, 2009 10:40 am
HOW ARE PRE-QUALIFYING AND PRE-APPROVAL DIFFERENT?
A Pre-Approval & Pre-Qualification are both pretty much the same thing. This is the letter stating that you are "pre-qualified" or "pre-approved" based on the current underwriting guidelines. There is no true difference, it's really just a matter of wording. I hope this helps...