What is the difference between a pre-qualification and a pre-approval?

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 What is the difference between a pre-qualification and a pre-approval?

1. Pre-Qualification Is Just an Estimate

Getting pre-qualified is like a financial snapshot. You tell the lender about your income, debt, and basic financial situation, and they give you a ballpark number for how much home you could afford. It’s quick, easy, and useful for planning — but it’s not based on verified information, so it doesn’t carry much weight with sellers.

2. Pre-Approval Is the Real Deal

Pre-approval is a full credit and financial review. The lender pulls your credit report, verifies your income and employment, and gives you a written letter showing the exact amount you’re approved to borrow. This gives you a competitive edge and shows sellers that you’re ready to buy — not just browsing.

3. Pre-Approval Makes You a Stronger Buyer

In today’s fast-moving market, sellers want serious offers. A pre-approval letter tells them you’ve done your homework and your financing is lined up. That’s why real estate agents and mortgage pros alike recommend getting pre-approved before you start house hunting — it’s the ultimate move for buyers who mean business.

Ready to Get Pre-Approved the Smart Way?

🎯 Download our free “First-Time Buyer Game Plan” eBook to learn exactly how to get pre-approved
💬 Start a live chat and ask us anything — we’ll walk you through it
📞 Or schedule a call for a friendly step-by-step game plan tailored to your situation

At Stairway Mortgage, we help first-time buyers win — not just qualify.
Let’s get you that head start. 🏁

Ready to Take Your First Step?

Skip the guesswork. Take our quick Discovery Quiz to uncover your top financial priorities, so we can guide you toward the wealth-building strategies that fit your life.

  • Takes just 5 minutes
  • Tailored results based on your answers
  • No credit check required
Take the Discovery Quiz

Need a Pre-Approval Letter—Fast?

Buying a home soon? Complete our short form and we’ll connect you with the best loan options for your target property and financial situation—fast.

  • Only 2 minutes to complete
  • Quick turnaround on pre-approval
  • No credit score impact
Get Pre-Approved Now

Got a Few Questions First?

Let’s talk it through. Book a call and one of our friendly advisors will be in touch to guide you personally.

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