A pre-qualification is based on stated verbal information that you have given us. A pre-approval is different in that it is supported by verified documentation and it has more certainty. A pre-approval is more valuable and gives you and your realtor more certainty as you look for your home. It is also more difficult to obtain as you have to supply your documentation and complete a loan application. Furthermore, we have to pull a credit report whereas, on a pre-qualification, we don’t necessarily have to.