Erick Sanchez- Vision Home Mortgage

FHA stands for Federal Housing Administration. Did you know that FHA has flexible credit requirements and low down payment options?

A pre-qualification is an estimation of what you could be approved for. It is based on questions and answers without actually verifying any of the information through documentation. The reason this matters is because it can cause problems when the loan is submitted to underwriting since the underwriter will require the documentation to be provided so they can verify the information. A pre-approval is the actual amount that you're approved for. All the information provided has been verified through documentation. This will help prevent foreseeable issues from popping up and provide a smoother loan process.