Know the Difference Between Prequalification and Preapproval
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.
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