Pre-Qualified versus Pre-Approved Loans

Over the years I have used both Pre-Qualified and Pre-Approved letters in the past when I was making overs on homes to live in or Investment properties. Of course, now a days I am a fan of Pre-Approved since it can speed up the buying process and being pre-approved for an exact loan amount with a written commitment letter. As always, I am not giving you any Financial Advice and you should seek advice from your Professional Advisors to see what is best for your situation. This is for entertainment only. I know it is much easier to get a Pre-Qualified letter when house shopping but lets explore the differences between pre-qualified and pre-approved loans. Remember I am not Loan Expert and that you should seek advice from a Mortgage lender for information that’s best for you. So, if you’re in the market to buy a home, this episode is a must listen. Pre-qualification is typically the first step in the home loan process. It’s an informal assessment of a borrower’s financial situation based on their self-reported income, assets, and debts. This information helps the lender provide a rough estimate of how much they may be eligible to borrow. Don’t give up on your dreams; don’t let others talk you out of your dreams. Make your dreams happen. Make it happen today. Visit my Podcast at www.Live4.Club on Anchor.fm, Spotify, Pocket Casts, Breaker Audio, Google Podcasts, Radio Public, I-tunes, Apple Podcast and more. Support me at Anchor.fm/Live4, Patreon.com/Millsway or Paypal.me/Millsway Check out all my Published books on Amazon.com. Here are a few of them: Money Secrets - https://www.amazon.com/dp/B088GKF2TM Richer Living - https://www.amazon.com/dp/1695676815 Wake Up - https://www.amazon.com/dp/1694989585 Rizzle.TV – Short Educational Videos on Motivation, Leadership, Relationships, Money and Golf. Thanks, and have a great night. Please Support or Follow me at https://www.patreon.com/millsway for access to all my blogs. Millsway.com and Live4.Club Become a Paid Subscriber to Live 4 Podcast #Financial freedom #financial independence #FIRE #Hustle #Live4 #podcast #millsway#realestate #arizona #realtor