What is the difference between pre-approval and pre-qualification? | Super Jumbo Mortgages, Commercial Loans, Nationwide Loans

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

Pre-approval includes all the steps of a full approval, except for the Appraisal and Title Search.
Pre-approval can put you in a better negotiating position, much like a cash buyer.

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4.625%
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* 4.881% APR. The displayed annual percentage rates (APRs) include total Points and additional prepaid finance charges but do not include other Closing Costs. On adjustable-rate loans, rates are subject to increase over the life of the Loan.

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