Welcome to HomeFree-USA Financial FAQ Knowledge Base. Type in your question or search keywords that correspond to your issue.
For example: What is a Vantage Score?
They are quite different.
Prequalification is an unverified estimate of what the lender thinks you can qualify for, many times after they have run a quick credit report. Preapproval is a result of submitted documentation from the client such as, paystubs, bank statements and tax returns in addition to reviewing the credit report.