If you are like most people, you are wondering which one you should get and what the difference is? 

The only way to know what cards you are playing with, meaning how much home you can buy, is to do a pre-approval. Here is why:

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For a pre-qualification, we have phone call in which we ask you "what is your credit score, how much do you earn per month, how much do you currently pay on any debts, and how much do you have in your bank account". Based on the answers, we can give you an estimate how much home you can buy. We do not recommend shopping for a home with this type of qualification. 

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For a pre-approval, we ask you to complete an online application (takes 10 minutes), ask you to upload your most recent paystub and bank statement, and review your credit report. Having reviewed all those in writing, we then pre-underwrite your file. The result is certainty as to how much home you can purchase. 96%* of home buyers that are pre-approved with us end up being approved by the ultimate underwriter. The only reason it is not 100% is because the other 4% change their mind and don't complete the purchase, have life changes happen during the process such as loss of income, or have a credit event that affects their score.

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(*2018-2025 average)