Pre- Approval or Pre- Qualify?

lullabella Posted: Apr 05, 2004 10:08 AM

Pre- Approval or Pre- Qualify?

Hi~
Which one is better better?

dgtlsunshine Posted: Apr 05, 2004 11:55 AM

Re: Pre- Approval or Pre- Qualify?

Preapproved is better.

Crisco718 Posted: Apr 05, 2004 01:11 PM

Re: Pre- Approval or Pre- Qualify?

Preapproved is better. It means that they have already run your credit report.

philby Posted: Apr 05, 2004 05:10 PM

Re: Pre- Approval or Pre- Qualify?

Pre-qualify does not mean anything. It is based on a good faith estimate of what you tell them. Pre-approval means you went through the process and your credit scores along with debt to income ratios were ran therefore determining how much you can really afford. Good luck and be careful!!