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What is the difference between pre-qualification and pre-approval?

Short answerA pre-qualification is an estimate based on what you tell a lender. A pre-approval verifies your credit, income and assets, so sellers take it seriously.

Reviewed by Juan Fernando Romero, NMLS 2557318Updated October 14, 2026

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What is the difference between pre-qualification and pre-approval?

Related loan programs

First-Time Homebuyer Loans

More answers