What’s the difference between pre-qualification and pre-approval?
At LENDERLINE, we see this confusion every day. Many buyers start with a pre-qualification and assume they’re ready to submit offers. In reality, a pre-approval carries significantly more weight in 2025.
Pre-Qualification: A basic conversation based on self-reported figures. No documents, no credit check, no obligation. Useful for budgeting only.
Pre-Approval: A documented review of income, assets, employment, and credit that produces a conditional commitment. Most sellers won’t consider an offer without one.
Why It Matters Now: With competition still intense in many metro areas, pre-approved buyers often win bids even when offering less because their financing is certain.
LENDERLINE Recommendation: Complete a full pre-approval 30–60 days before house hunting. It locks in today’s interest rate and helps you shop confidently.
Even if you have been turned down by another lender, LENDERLINE has a loan program for you.
Call LENDERLINE at 1-888-661-7888 or complete this form to schedule a FREE mortgage consultation.