W
ILMINGTON, N.C., July 30, 2025 (GLOBE NEWSWIRE) -- In competitive real estate markets like Wilmington, understanding the difference between pre-qualification and pre-approval is crucial for homebuyers. According to Jody Wainio of Buyers Choice Realty, a common misconception can lead buyers to miss out on homes they're ready to purchase.

    Pre-qualification is often based on unverified financial data provided by the buyer themselves, offering only a rough estimate of borrowing power. In contrast, pre-approval involves a thorough review of credit and income verification, producing a reliable statement of buying ability. This step builds credibility with sellers, demonstrating that a buyer is financially prepared and serious.

    In hot markets where homes receive multiple offers quickly, having a verified pre-approval can be the deciding factor. It not only strengthens a buyer's offer but also speeds up the transaction process. Being prepared with documentation enables buyers to act decisively when the right home becomes available, giving them a significant advantage.

    Jody Wainio shares his expertise on this topic in the HelloNation article "What Most People Get Wrong About Pre-Approval." For more information and guidance on succeeding in today's real estate landscape, visit HelloNation at www.hellonation.com.