Upper Allegany Realty, Inc. | What's the difference between Pre-Qualification and Pre-Approval? | Lender, Preapproval, Amount, Already, Approved



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What's the difference between Pre-Qualification and Pre-Approval?

Pre-Qualification is how much you can get from the lender of your choice to purchase a home.

Pre-Approval is the amount your lender has already approved for you.