What is the difference between being prequalified and preapproved for a loan?

The difference between being prequalified and preapproved is simple: If you\'re prequalified it means that you POTENTIALLY could get a loan for the amount stated to you, assuming that all of the information given was accurate and true. If you\'re preapproved, it means that you have undergone the extensive financial background check - which includes looking at your credit history, previous tax returns and verifying your employment - and the lender is willing to give you a loan. You\'re APPROVED! So, they give you a letter that states such and it is valid for a approximately 60 days thereafter. Notwithstanding the above, you will have an accurate figure which shows the maximum amount that you are approved for. Most sellers prefer buyers that have been preapproved because they know that there will not be any problems with the purchase of their home.

Real Estate Questions and Answers

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If you are interested to: Buy a Home in Hollywood, Sell a Home in Hollywood, Rent a Home in Hollywood, Commercial in Hollywood

(5) Real Estate Agents found in Hollywood city.

CLICK HERE	Company:  Coldwell Banker Agent Name:  Joan, Robert, Viviana Henry Mobile: 1-954-849-4936    Office: 1-954-260-7531    " Se Habla EspaГ±ol ! Viviana 1-954-655-6040 Over 120 Million in Closed Sales, and we are Foreclosure Experts ! Hello and thank you for visiting! It is our goal as your full service real estate company specializing in the Hollywood, Ft. Lauderdale, and Aventura areas, t" ... [ view more ]
CLICK HERE	Company:  One Sotheby's Interantional Realty Agent Name:  Michelle Howland Mobile: 954-658-4712    Office: 954-658-4712    "Michelle Howland has been a consistent Top Agent year after year. With over 10 years of experience in the South Florida real estate market, she joined the Fort Lauderdale team of ONE Sotheby’s in March of 2010. Prior to that time, Michelle held positions as a Broker Associate and as a Managing" ... [ view more ]
CLICK HERE	Company:  Real Living First Service Realty Agent Name:  Henry Perez Mobile: 1-305-457-7317    Office: 1-954-963-4808    "Whether you're buying a home, selling a home or just want to know more about Real Estate, you've come to the right place. We are ready to serve you, and assist in all your real estate needs. " ... [ view more ]
CLICK HERE	Company:  Coral Shores Realty Agent Name:  Susan Weaver Office: 1-954-668-9056    " "Professional Service with a Personal Touch" I specialize in vacation condos & single family homes in the Southeast Florida beach and downtown areas of Hollywood, Hallandale Beach, Fort Lauderdale Beaches and Sunny Isles Beach. I also specialize in relocation, for m" ... [ view more ]
CLICK HERE	Company:  Keller Williams Realty Agent Name:  Diane Roberts Mobile: 954-658-2917    "A home is not a home because of its room dimensions or the color of the walls. It is about how you feel when you walk through the front door. And the way you can instantly envision your life unfolding there. This is about more than real estate. It is about your life and your dream" ... [ view more ]

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