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What’s the Difference Between
Pre-qualification and Pre-approval?

Although pre-qualification and pre-approval are sometimes used interchangeably, it’s important to know the difference and when you’ll need them during your home buying journey.

Pre-qualification

Before you begin your house hunt, it’s important to get pre-qualified. It quickly helps you (and your agent) determine your budget so you can shop for the home of your dreams with confidence. A pre-qualification entails:

  • A preliminary review of your financial information
  • No documentation needed
  • Quickly identifies what you can afford

In just a couple of minutes we can provide you with your pre-qualification. Let the shopping begin!

Pre-approval

Once you have found your dream home, get a pre-approval. This shows that you are serious about submitting an offer and ready to move on to the loan application process. Obtaining a  pre-approval includes:

  • A thorough review of your finances
  • Submitting full documentation (such as employment history, credit information, bank statements and tax returns)
  • An approval of a specific loan amount

Once all the information is submitted, we will provide your pre-approval within 24 hours on the next business day.

Give us a call and a Home Loan Expert will guide you through your purchase options. We work at your pace – and deliver loans at the speed of you!

Be a part of AmeriHome Rewards

With our AmeriHome Rewards program, when you finance a loan with us ONCE, you’ll save $1,095 on ALL future refinances or home purchases. See details.

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©2020 AmeriHome Mortgage Company, LLC, Branch Office located at 17885 Von Karman Avenue, Suite 100, Irvine, CA 92614. NMLS #135776; AZ d/b/a AmeriHome Funding, LLC #0917700; California Licensed by the Department of Business Oversight, under the California Residential Mortgage Lending Act #4131116; Georgia Residential Mortgage #30855; Licensed by the N.J. Department of Banking and Insurance; PA #59125; Rhode Island Licensed Lender. NMLS Consumer Access www.nmlsconsumeraccess.org. Equal Housing Lender.

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