Should I Get Pre-Qualified or Pre-Approved for a Mortgage Before Looking?

Before you start house hunting, there’s one key step that sets serious buyers apart — getting pre-qualified or pre-approved. While the two terms sound similar, they carry very different weight in the Cincinnati real estate market.

Pre-qualification is an initial overview. You share your income, debts, and assets with a lender, and they provide an estimate of what you might be able to borrow. It’s a helpful starting point, but it’s based on self-reported data — not verified financials.

Pre-approval, on the other hand, is the real deal. The lender reviews your pay stubs, bank statements, credit history, and tax returns to verify your financial picture. Once approved, you’ll receive a letter confirming the amount you’re qualified to borrow. That letter makes your offer far more credible to sellers — especially in competitive markets like Mason or Hyde Park.

Think of it this way: pre-qualification gives you confidence; pre-approval gives you power. It shows sellers that you’re not just browsing — you’re ready to buy.

Getting pre-approved also helps set realistic expectations and prevents heartbreak later. You’ll know exactly what price range to target, how much your monthly payments will be, and whether you should adjust your down payment or loan type.

Before touring homes, take the time to connect with a trusted local lender. A little preparation can make your Cincinnati home search smoother, smarter, and far more successful.

Presented by Tanya Roesel, Comey & Shepherd Realtors 513-678-5001 | tanya.roesel@comey.com