Episode 53
Mortgage Minute: What is the difference between Prequalification versus Preauthorization?
Financial Residency · Doug Crouse
May 9, 20233m 54s
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Show Notes
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.