Getting ready to purchase your first home or even if you’ve been around the block and have owned multiple homes, the language surrounding the mortgage and real estate finance industry can get confusing. I will always break it down for you and make it easy to understand, so I thought it would be useful to review 2 very important and sometimes confusing terms…

Pre-Qualification vs. Pre-Approved.. there is a BIG difference:



When we first speak,  we’ll discuss your goals and plans, find out  what you are looking to accomplish. Are you looking to stay in this home long term or will you be selling it soon?

Are you looking for the lowest monthly payment or are you looking to get the home paid off as soon as possible? During our initial discussion, you won’t need to provide any proof of assets or debts or income and I won’t pull credit.

Based on this first conversation, I will be able to give you an idea of the size of the home loan you are pre-qualified for  – please keep in mind, this is not a guarantee of a mortgage.  Getting a “pre- qualification” is the first step…  The next step is the pre-approval process.


Once you’re happy with the initial numbers provided and we can see if the loan “makes sense”, the fact checking, verification and credit pull is done. During this “Pre-approval” time, we will collect the documents needed to verify your income, assets and credit.

After analysis, we will issue a letter that details the amount of the new mortgage you are qualified for. Once you have been through the pre-qualification and pre-approval process, you can be confident you will be approved for a new loan and can start the shopping process for a new home.

If you need help in that area, please let me know and I can refer you to my trusted realtors based on the areas you are looking in.

As always, I’m happy to answer any questions you may have. Please do not hesitate to contact me.