Pre-approval vs pre-qualification

pre-approval vs pre-qualification

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PARAGRAPHSome or all of the mortgage lenders featured on our site are advertising pre-qualificatiion of NerdWallet, but this does not influence our evaluations, lender star ratings or the order in which lenders are listed on the page.

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Ready to purchase a home? Preapproval requires providing extensive documentation regarding your income, employment, savings and debt. Credit card issuers typically look into several factors related to credit history and income.