If you’re thinking about buying a home, you’ve probably heard the terms “prequalified” and “preapproved.” They sound similar, but they’re not the same thing! Understanding the difference can help you make a stronger offer and move through the buying process with confidence.

Prequalified:
Getting prequalified is the first step in the mortgage process. You share some basic financial information with a lender like your income, debts, and credit range, and they give you an estimate of what you might be able to borrow.
✅ It’s quick and easy, but it’s not a guarantee.

Preapproved:
Preapproval goes a step further. The lender actually verifies your financial details by checking your credit report, income documentation, and assets. You’ll get a preapproval letter showing exactly how much you’re qualified to borrow.
✅ It’s stronger and shows sellers you’re serious and ready to buy.

Why it Matters:
In today’s market, being preapproved can make a huge difference. It gives you a clearer picture of your budget, and helps your offer stand out if you’re competing with other buyers.

Thinking about getting started on your home search? I can connect you with trusted local lenders to help you get preapproved and ready to make your move!

Call or text Lindsey Spillers at 904-881-5216 for a free buyer consultation.