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Financing in 31093 : Real Estate Advice

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Tue Aug 3, 2010
Mikem answered:
pre-qualified means that potentially someone with the income that you stated could, maybe, perhaps, in theory get that mortgage. Pre-approved means that you, could, get that mortgage.

In other words, pre-approved is the stronger of the two, though doesn't 100% guarantee that you'll get it. Pre-qualified is mostly useless except for just a basic idea as to what you could get.
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