Pre-Approval Vs Pre-QualificationVery shortly after you have made the decision to purchase a home you will need to talk to a mortgage professional about your new mortgage. This is an important first step in determining how much you can really afford and whether you qualify credit wise for a mortgage.Over the years the terms pre-approval and pre-qualification have been used as if they are interchangeable. They are not. They mean two entirely different things and should not be confused. Let's take a look at the two. Pre-QualificationGetting pre-qualified, too be frank, is almost a waste of time. In its simplest form a mortgage expert takes the information you give to them and without checking into it, offers you his opinion on what you can afford. No credit check has been done. No verifyi...
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