If you are PRE-QUALIFIED, it means that you could POTENTIALLY get a loan for the amount stated to you. It is contingent upon the accuracy of the information you have provided to the bank.
If you are PRE-APPROVED, it means that you have undergone an extensive financial background check, and the lender is willing to provide you with the loan.
8. What is earnest money?
3. What should I disclose to the buyer about my home?
4. What is an appraisal?