Pre-Qualifiction vs. Pre-approval
So, I've reached out (given my 810 credit score and shared my income, low debt, etc.) to various lending companies and brokers and learned that nobody "pre-qualifies." They all suggest going straight for "pre-approval." It's my understanding that if you apply for pre-approval with several lenders, it's best to have them all perform a hard credit pull within a 2-week span, to avoid it affecting your credit. Any thoughts?
Also, if I do decide to apply for pre-approval with several lenders to compare rates and plans, how long before the pre-approvals expire? And if they do expire, what would I need to do to get an extension?
I'm determined to buy a property in the next few months, but I will need enough time to analyze them with the BP calculators to ensure I get the right deal. I thought getting pre-qualified was the first step? All thoughts and ideas toward the next step are welcome! Thank you. - Philip