Real Estate Expert Jody Wainio Of Buyers Choice Realty Shares Advice On Mortgage Pre-Approvals In Hellonation

(MENAFN- GlobeNewsWire - Nasdaq) WILMINGTON, N.C., July 30, 2025 (GLOBE NEWSWIRE) -- What is the difference between pre-qualification and pre-approval for a mortgage? According to real estate expert Jody Wainio of Buyers Choice Realty in Wilmington, North Carolina, misunderstanding this distinction can cause buyers to miss out on homes they're ready to purchase. In the HelloNation article What Most People Get Wrong About Pre‐Approval , Wainio explains why pre-approval is a critical first step in competitive real estate markets like Wilmington.

Many buyers begin their search armed only with a pre-qualification, which is based on unverified, self-reported financial data. While it may offer a rough estimate of borrowing power, it carries little weight with sellers. Pre-approval, on the other hand, involves a full financial review, including credit checks and income verification, producing a reliable statement of buying ability. Wainio notes that this step builds credibility and shows sellers that a buyer is financially prepared and serious.

In hot markets where homes can receive multiple offers quickly, having a verified pre-approval can be the deciding factor. Wainio emphasizes that 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, which can be a major advantage.

These insights and more are detailed in the HelloNation feature What Most People Get Wrong About Pre‐Approval , where Jody Wainio offers guidance to help buyers succeed in today's real estate landscape.

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