One of the primary and a lot of essential actions whenever purchasing a property is getting pre-approved. As well as the peace-of-mind it offers house purchasers, pre-approval letters offer leverage whenever negotiating with house vendors. But just exactly exactly how yes thing is just a pre-approval? Are you able to be rejected even when you’ve been pre-approved? Will there be a significant difference between getting pre-qualified and having pre-approved? What’s the Difference Between Pre-Qualified and Pre-Approved? Getting pre-qualified is usually the initial step up your home buying procedure. Pre-qualifications usually are an easy procedure involving a discussion with home financing lender, either throughout the phone, in individual or electronically.