Want to create an interactive transcript for this episode?
Podcast: Financial Residency
Episode: Mortgage Minute: What is the difference between Prequalification versus Preauthorization?
Description: Before you buy a home, your realtor will likely ask you for a letter from your lender to verify that you are qualified to buy the home. Your lender has two options to provide you - a prequalification or a preauthorization letter. Doug discusses the difference between the two and why you might want one over the other based on your circumstances.