Lake Erie Vacationland Blog

What's the difference between being pre-qualified and pre-approved for a mortgage?

Pre-qualification is an informal determination by a lending professional that estimates how much mortgage you can afford. This will help you guide your home search to the correct price range.

Pre-approval is a written guarantee by a lender or mortgage broker to grant you a loan up to a specified amount. It is a good idea to get pre-approved before submitting an offer; sellers will take your offer more seriously than an offer from someone who is only pre-qualified.

Posted in:home buying and tagged: Port Clinton OH Ohio Real Estate Marblehead OH Mortgage qualification

Posted by Gary and Peggy Hopp on March 30th, 2016 4:13 PM

Home Buying

What are the advantages of buying a home?

Several! First of all, owning a home is a great way for you to build equity, take control of where you live, and invest in your family and your community. One study found that homeowners also report a higher quality of life.

Posted in:home buying and tagged: Marblehead Oh Port Clinton OH Ohio Real Estate

Posted by Gary and Peggy Hopp on March 6th, 2015 10:36 AM

Lake Erie Vacationland Blog

What's the difference between being pre-qualified and pre-approved for a mortgage?

Home Buying

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