On this episode of The Loans Elevated Podcast, Broch and Tj discuss Pre-Qualification VS Pre-Approval. Broch states how most home buyers think they are the same thing but they can actually drastically different outcomes when looking at properties. Broch and Tj take you through what pre-qualification means, what pre-approval means and how they differ.

Tj explains how pre-qualification is a lazy way to get you a letter to go look at homes but it often end up breaking your heart and costing you money. Tj shares that he and Broch believe in pre-approval before shopping for a home because it won’t lose you any money and it will allow you to be more competitive and close quicker.

Broch and Tj discuss how you should want to get pre-approval for a clear competitive advantage, explaining how it shows listing agents that you’re more serious. Broch and Tj encourage you to go a step further and be fast tracked. Tj states that the average closing is 30 days but how they can cut it down to a third of that time in some cases.

Broch reminds you that reputation matters so make sure you find a good lender before going home shopping. Tj encourages you to reach out if you have any questions and to also share this with friends and family who could benefit from this episode.

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