Pre-Qualification vs Pre-Approval

These terms sound similar but mean different things. Knowing the difference helps you make a strong offer when it counts.

What Is Pre-Qualification?

Pre-qualification is a quick, informal estimate of what you might be able to borrow, based on information you share with a lender. It's a helpful starting point but carries less weight with sellers.

What Is Pre-Approval?

Pre-approval is more thorough. The lender verifies your income, assets, and credit, and issues a letter stating how much you can borrow. Sellers take pre-approved buyers far more seriously.

Which One Do You Need?

For a competitive market like San Diego, pre-approval is what you want before you start writing offers.

Ready to Get Pre-Approved?

As your REALTOR, I can connect you with trusted lenders to get you fully pre-approved. Reach out and I'll help you get offer-ready.