Prequalification vs. Preapproval: What’s the Difference?
Before buying a home, it’s essential to understand the difference between **prequalification** and **preapproval**. While prequalification gives you a rough estimate of what you can afford, preapproval involves a deeper financial review and strengthens your offer. In a competitive market, having a preapproval letter can make all the difference. Ready to take the next step? Let’s break down which option is right for you!