Part 1: A Buyer's Agent's Worst Nightmare

What is the difference between Pre-Approved and Pre-Qualified?

A Pre-Approval: You complete your application and your credit, income and assets are verified and reviewed by a mortgage lender.

A Pre-Qualification- You complete an application. Then you are pre-qualified based on your credit score and the information you entered.

Why is it important to be pre-approved- Because a pre-qualification is just a feel good piece of paper that doesn’t guarantee your ability to purchase a home.

Who should this matter to? EVERYONE- The buyers, the Buyer's agent and the Seller and Sellers agent. Because it affects EVERYONE if the deal doesn’t come to fruition.

Take the time to get fully pre-approved. It is one decision you won't regret doing. KNOWING IS BETTER than HOPPING.

**Curious about the difference between a Pre-approval and a Pre-Qualification? Here's a breakdown:

Pre-approval: Complete your application and have your credit, income, and assets verified by a mortgage lender.

Pre-Qualification: Submit an application and receive a preliminary assessment based on your credit score and provided information.

Why does pre-approval matter? Because pre-qualification alone doesn't guarantee your ability to purchase a home—it's merely a feel-good piece of paper.

Who does it impact? Everyone involved—buyers, buyer's agents, sellers, and seller's agents. A failed deal affects everyone.

Take the time to get fully pre-approved. It's a decision you won't regret. Knowing is better than hoping.

Want more information on the pre-approval process? Visit my website below or visit my Instagram for my free buyers guide packed full of everything you need to know to get started.

The Riley Home Team will get you pre-approved today~