Realtors and Homebuyers: Prequalification vs a Preapproval? Which Did You Use and Why?
Answered by:
Hi Stephanie. I would always prefer a pre-approval over a pre-qualification. Even better is a Loan Commitment with a TBD for the property. I work with a lender locally (smile) who is able to produce a Loan Commitment in 7 business days. Love them!