Redfin

JULY 17, 2025

Closing timeline: Aligning with the seller’s preferred timeline—or offering a rent-back—can give you an edge. Get pre-approved: A pre-approval shows the seller you’re financially ready and serious—it’s stronger than a pre-qualification. Getting pre-approved so the seller knows you’re financially ready.

Earnest money deposit

Redfin

JULY 30, 2025

Get pre-approved for a mortgage and have cash ready One of the biggest signals to sellers that you’re serious is a mortgage pre-approval letter. This is more than just pre-qualification: It shows a lender has already vetted your finances. Why pre-approval matters: It gives sellers confidence in your ability to close.

Earnest money deposit

Windemere Buying

MARCH 1, 2023

Before you begin your home buying journey , it’s helpful to know about pre-approval, pre-qualification, and proof of funds, and the role they play in a real estate transaction. Homeownership Terms to Know: Rent-Back Agreement, Joint Tenancy & More Pre-Qualification and Pre-Approval What is pre-qualification?

Pre-qualification

HomeLight

MAY 24, 2021

A step up from pre-qualification, preapproval often means the lender gives conditional approval, stating the size of the mortgage you’ve been preapproved for (though what constitutes a “preapproval” can vary from lender to lender). Get preapproved for a mortgage. Beyond that, think about how much you can put down.

Pre-qualification

HomeLight

AUGUST 31, 2021

submit your purchase offer with a pre-qualification or preapproval letter from a lender, these funds aren’t a sure thing until the loan is fully approved. Make sure you’re already preapproved for your loan (or go through pre-underwriting, if possible) so waiting for that isn’t a factor. Though you can (and should!)

Due diligence

HomeLight

DECEMBER 14, 2021

Be sure and ask any agent that you’re interviewing about these qualifications. Pre-listing or when looking at houses, and when evaluating offers.In It could be the close date, repairs, or a rent back period. A good agent knows how to handle the back and forth of negotiations. you don’t want to wait until 8 a.m.

Earnest money deposit

HomeLight

MARCH 2, 2023

Closing costs in California average about 1% of the home’s sale price , and there are other pre-paid costs you might have as well. Conforming loans are given to buyers who fit into the qualification guidelines set by the entities Fannie Mae and Freddie Mac, who purchase loans after they are originated.

Closing