Preapproved vs. Prequalified – Difference Between These Mortgage Terms

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Getting a mortgage to buy a home is complicated. Hearing terms like “preapproval” and “prequalification” makes it more confusing. What do those terms mean, how does preapproval differ from prequalification, and why would you want to be preapproved or prequalified in the first place?

Preapproved vs. Prequalified – Difference Between These Mortgage Terms is a post from Money Crashers.