08/27/2026
PSA: Pre-Qualification and Pre-Approval are not the same! I see it more and more, as credit report prices go up, lenders are taking the borrowers word for credit, income, monthly debts and issuing a pre-qualification that in most cases isn't worth the paper it is printed on, what happens next? Borrower goes under contract, lender does the work they should have done upfront, tells borrower we can't do the deal. Now everyone's time has been wasted. Realtors if you see pre-qualification, reach out to the lender on the letter, ask if it's a fully vetted approval, was it run through AUS, what does the borrower need for cash to close and do they have it.
Lenders do it right the 1st time, you are actually costing people and your company more time and money because you took the easy way out!
Rant over. If you want a lender who actually does it the right way from day one and doesn't take shortcuts, contact me!