Pre-Qualification vs. Pre-Approval: Do you know the difference?

If you’re looking to purchase a home, the first step is to meet with a mortgage specialist to get pre-approved 💸

It is important to understand the difference between a pre-qualification and a pre-approval, as this common mistake could cost you when making an offer on a home! 🏡

Eric Cyrenne, Mortgage Specialist at RBC, explains why the two are very different and how you can ensure that you take the necessary steps to obtain a proper mortgage pre-approval ✅