What type of Loan Approval do you want in today’s market?

Fair, Better, and Best for Buyer’s Loan Approval
Term What it Means Documents Verified Credit Pulled Seller Confidence When it is Used
Pre-Qualified Estimate based on what you say No, none Typically not; soft pulls are not helpful Low Early window shopping
Pre-Approval The loan officer has reviewed your finances — assets, income, and credit Yes Yes Strong Needed before making an offer
Mortgage Commitment The underwriter has fully reviewed credit, income, and assets and commits to funding your loan Yes Yes Highest Needed to make the strongest offer — trumps a pre-approval letter

Bottom line: In today’s market, a mortgage commitment is your strongest move — showing sellers you’re fully approved, financially ready, and serious about closing — giving your offer a powerful edge.

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