Pre-Approval

Pre-approvals involve checking your credit and verifying some of the information you provide the lender.

Pre-qualifications have not checked your credit or verified anything, so they are not as good with your offer.

It is best to submit any offer with a pre-approval, but if you can't get that at least submit a pre-qualification.

You do not have to use the lender who writes the pre-approval, you can still decide after the offer is accepted.

Having 1 or 2 lenders doing a pre-approval will not impact you credit score significantly.

Do not have every lender you talk to do a pre-approval as it could affect your credit score.

When shopping lenders while in escrow it is important to keep the closing date in mind so you are not late.