Which Is Better for You: Mortgage Pre-approvals or Prequalifications? - A1 Mortgage

Kiara Garcia16 May, 2022Finance

Prequalification is a quick and easy way to get a mortgage lender's estimate of what you might be able to afford in terms of a mortgage loan. Prequalification is typically used as a basic step in the mortgage process by most lenders. They will then use this information to calculate the maximum loan amount you are eligible for. So let's look at the differences between mortgage pre-approvals and prequalifications.