Our Favorite Tax Software (with Robert Farrington from TheCollegeInvestor.com)
The Stacking Benjamins Show
00:00
Mortgage Loans - What Are the Differences Between Prequalification and Preapproval?
A prequalification is you just go on a website and say, you know, I make $100,000 a year. A preapproval is I make a hundred grand a year. Here's my tax return. Here's all my bank statements. Then they say, okay, you're approved for 400 K of alone. And to be clear, most places don't care if you were prequalified, do they? Like if I show prequalification to a realtor, real estate agent and I'm trying to buy a house, they're like, okay, that's cute. Come back when you've got actual pre Approval.
Play episode from 12:40
Transcript
