Mortgage Minute: What is the difference between Prequalification versus Preauthorization?
May 9, 2023
03:54
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Before you buy a home, your realtor will likely ask you for a letter from your lender to verify that you are qualified to buy the home. Your lender has two options to provide you - a prequalification or a preauthorization letter.
Doug discusses the difference between the two and why you might want one over the other based on your circumstances.
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