Pre-qualification uses your self-reported income and debt to provide an approximate estimate of your borrowing ability. Typically, it excludes a credit check.

Preapproval confirms the homebuyer’s creditworthiness before making a purchase contract. For this, the mortgage application is filled out, and the lender verifies the information provided, including the credit check.

If the applicant is preapproved, a preapproval letter is issued. It is an offer (but not a commitment) to lend the specific amount, good for 90 days.

Read full article here: - https://kimeckerthomes.com/buy....-a-home-in-californi