# Pre-Qualified vs. Pre-Approved: What's the Difference in Texas? | Agustin Canales

> A pre-qualification is usually based on what you tell a lender; a pre-approval is usually verified. Here's what that means for Houston and Texas home buyers.

## Quick summary
- A pre-qualification is usually based on information you report; a pre-approval is usually based on information the lender has checked.
- Lenders don't use the two words the same way, so ask what was actually verified: credit, income and assets.
- Neither letter is a guaranteed loan offer. Final approval still depends on the home, the appraisal and underwriting.
- In Texas, the TREC Third Party Financing Addendum lets you set a number of days to get Buyer Approval or end the contract with your earnest money back.
- Multiple mortgage credit checks within 45 days count as one inquiry, so you can compare lenders.
- By Agustin Canales, Senior Mortgage Loan Officer, NMLS #1484335. Call or text (832) 531-4192.

Page: https://agustincanales.com/blog/pre-qualified-vs-pre-approved-texas/

Agustin Canales · NMLS #1484335 · First Community Credit Union NMLS #217251 · Equal Housing Opportunity