Know the Difference Between Prequalification and Preapproval
On a mobile device? The terms “prequalification” and “preapproval” are often thought to be the same thing but in fact, they are very different. Prequalifying is a relatively easy process while preapproval involves a much more assessment of potential buyer’s data by a lender.
Download this resource to learn the important differences between the two terms and how you can help your clients be prepared for each scenario.
Related Products and Resources: New Agent Guide: Learning the Language of Real Estate, 21 Unexpected Extra Costs to Prepare Your Clients for When Buying a Home, Ask These Six Questions to Qualify Your Buyers
