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Pre Qualified or Pre Approved? What's the difference?

Pre qualification for a mortgage means that a lender has reviewed your basic financial information, such as your income, debt, and credit score, and has given you an estimate of the mortgage amount you might be able to afford. Pre qualification is typically a quick and easy process that can be done online or over the phone and it does not require a credit check or verification of your financial information.


Pre approval for a mortgage is a more in-depth process that involves a lender reviewing your financial information and verifying your income, employment, credit score, and other financial details. Pre approval gives you a more accurate estimate of the mortgage amount you can afford and demonstrates to sellers that you are a serious buyer who is likely to be approved for a mortgage.


Pre approval typically requires completing a mortgage application and providing supporting documents such as W-2s, bank statements, and pay stubs. Once your application has been reviewed, the lender will issue a Pre approval letter, which you can use to show sellers that you are a qualified buyer.



If you're thinking about buying a home in Castle Rock or greater Denver Colorado, it's a good idea to get Pre approved for a mortgage before you start your home search. This will give you a better idea of how much you can afford to spend, and it will make the home buying process go more smoothly.


115 Wilcox St

Castle Rock, CO 80104





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Contact Info

Trevor Stucky NMLS 1750467, MLO.100515878 Denver, Colorado | C2 Financial Corporation NMLS 135622, | | All rights reserved. The services referred to herein are not available to persons located outside the state of Colorado. Equal Opportunity Mortgage Broker/ Lender.

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