MLO | Mortgage & Real Estate Guide

Are you actually Pre Approved? Pre Qualified vs. Approved vs. Underwritten

May 20, 2020 Addy Nett Season 1 Episode 12
MLO | Mortgage & Real Estate Guide
Are you actually Pre Approved? Pre Qualified vs. Approved vs. Underwritten
Chapters
MLO | Mortgage & Real Estate Guide
Are you actually Pre Approved? Pre Qualified vs. Approved vs. Underwritten
May 20, 2020 Season 1 Episode 12
Addy Nett

Why is there so much confusion between Pre Approved, Pre Qualified, Pre Underwritten? The MLO team unpacks the truth behind the terms and how different lenders might be putting your approval and real estate transaction at risk.

Show Notes Transcript

Why is there so much confusion between Pre Approved, Pre Qualified, Pre Underwritten? The MLO team unpacks the truth behind the terms and how different lenders might be putting your approval and real estate transaction at risk.

Speaker 1:

Hey, thanks for joining us again for this episode of M L O . Today we are unpacking a box of the difference between prequalification, preapproval and the rarely heard pre underwritten. So what are the differences of these terms? How do they affect the home buyer, the home seller in which one should you actually accept? So keep an eye out, dive in deep. My name is Patty net, this is M L. O. N . I certainly hope you enjoy the show . I've got camera , I'm getting all the water you liked starting at sardines and I just, we are , uh , we are rolling. Ladies and gentlemen, this is the MLO team. My name is Addie net and we got the full team on board. Casey, thank you for uh, joining us today.

Speaker 2:

Thank you sir Addie . As a pleasure as it always is. Thanks for having me on.

Speaker 1:

Boom, boom, boom, boom. And of course we have the Eversole of Christian camp, AKA C K K a mortgage Giroux and more AKA is that we can not disclose on a live stream. Welcome Christian. Thank you. Thank you Addison to be here as always. Thanks. So how's everybody doing today? I know , uh, you know, we've been at it guys and everyone's getting pushed. Like, how are, how are y'all handle it? Like, we're going to dive into like pre-approvals and, you know, per versus pre qual and pre underwritten. But let's get a little personal round. I'll start with Casey . Like, what's life at the carpenter house right now with Covidien ? What you guys up to life at the carpenter house? Uh ,

Speaker 2:

pretty exciting with wife doing, you know, basically the mom and teacher . I mean, this life of, of watching this evolve is very interesting. It's obviously very demanding. I , uh , tip the hat to the teachers out there. That is a challenging job as we are now.