Does getting a prequaled take any less time than getting preapproved

Pre-qualification basically means you've talked to a loan officer, and it looks like everything should be OK. A real pre-approve means you've also submitted your supporting documents to the loan officer - like W2's and pay stubs. Before you sign any purchase agreement, you should really have a full pre-approval. www.TwinCityHomeLoans.com

Typically a Pre Qual can be done in 30 minutes by a qualified loan professional.... a pre approval will require you to provide all of the required documentation for income and assets and have the verifications done.....Im free right now if you want to get started. thanks John 816-412-3568

A pre-qualification is quicker but it is worth the extra time to get a actual pre-approval because your income and credit are verified and it is more accurate.

Pre approvals do take longer than pre qualifications.. a true pre approval requires your complete loan packet including application, tax returns, w2's, bank statements, etc.. to be submitted to an underwriter for analysis.. this process can take 3 to 5 days.. but if your dealing with a well qualified loan officer working for a brokerage and not the local big bank, then he can look at your documentation and credit and know with fairly accurate certainty that he can get you financing.. understand that he is only paid if the loan funds, his time is just as valuable as yours and he wouldn't issue you a pre qualification or spend time on a loan if he didn't feel it would be approved.. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Pre-qual is much faster (15-30min) with me over the phone. The pre-qual and approval letter are more than likely what your realtor or listing agent will want to see upon offer. The Pre-approval takes us 24-72hrs depending on how quickly you can get us all of the documentation that we will need to get you into underwriting. Once our underwriter has your file with all documentation we can have an Approval in 24-48hrs. Call us 800-446-9043

Yes, a Pre-Qualification is a review of your loan application, credit report and if needed a DU or LP approval.....This process is very quick and it can be done over the phone or you can apply online.....To get Pre-Approved you would need to submit your income information for review.....However, if you are self-employed I suggest you supply your last two years of tax returns up front.....I am in Colorado and would be more than happy to help you with your Pre-Qualification....You can reach me at 303-521-7169 or loanofficerseanyoung@gmail.com......Best wishes, Sean

There really is no difference for most lenders. Of course, the lender will still need an appraisal for your new home, title insurance and homeowners insurance. You will also need to be aware that the credit report and income and asset documentation you will be providing has a shelf life. You may have to update these documents with more current ones if your search takes more than a month. Please call should you want more information (303)817-3308