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Home / Mortgage Information / Pre-qualification vs. Pre-approval – The Important Difference

05.19.20 Mortgage Information

Pre-qualification vs. Pre-approval – The Important Difference

Hi, Christopher Graves here with Christopher’s Mortgage Minute.

Many people ask about pre-approvals or pre-qualifications – and most of the time people don’t know if there’s a difference. But you know what? There’s a big difference!
For a pre-qualification – we look at your credit, and take a look at some of the basics. While that’s an important first step, it’s nowhere near as powerful as a pre-approval. A pre-approval is where we dive in a little bit deeper and check your income, check your assets, and make sure that you can actually purchase a home.
When you go to visit a seller with a pre-approval, you may be able to save thousands of dollars.  This is because that seller will now have more confidence in your offer, over someone else’s. Also, you may even be able to negotiate a better price for yourself!
This is important in a tight, competitive market. So next time, take a look at getting that pre-approval!

If you have any questions, please contact me. I look forward to an opportunity to assist you!

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Tags: pre-approvals, pre-qualifications

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Chris Graves

I grew up in Massachusetts, spent the majority of my young adult life in Boston, and own a home in Windham NH. I have owned properties in MA and NH. I specialize in mortgage lending in Massachusetts and New Hampshire and my company does have the ability to lend in other states. I graduated from the University of Massachusetts in Amherst Massachusetts in 2002. I have a Bachelor’s in Science. In addition to managing a team of loan officers my personal loan production is always in the top of the entire of company. I have personally been in the mortgage business for over 13 years. I pride myself with taking my clients from application to close in the smoothest and quickest way possible, while keeping them well informed during the entire process. I originate my own loans from start to finish and work hand in hand with my loan processors & underwriters to make sure I am updated to the minute with all of my files. I stay up to date with lending guidelines and speak with underwriters on a daily basis to ensure I am aware of all of the lending guidelines in place.

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Chris Graves, Certified Mortgage Advisor

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Direct/Mobile: 978-376-5389
264 South River Rd, Suite 550
Bedford, NH, 03110
603-458-5107 x201

Topics

  • Local Information (61)
  • Misc Topics (14)
  • Mortgage Information (118)
  • News (22)
  • Real Estate Information (176)
    • Featured Properties (2)
    • Home Buyer Tips (134)
    • Home Maintenance & Repair (12)
    • Home Seller Tips (40)
    • Market Trends (24)

Disclosure

Company NMLS 1788.
Licensed by the New Hampshire Banking Department #13092-MB.
Licensed in Massachusetts.
Licensed in Maine.
Licensed in Florida.
Lender and Broker License #MC-1788 (Not Licensed in Alaska or New York)
http://www.nmlsconsumeraccess.org
Click Here for Our Privacy Policy

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