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Preapproval vs Prequalify - What's the difference?

preapproval | prequalify |

As a noun preapproval

is approval in advance.

As an adjective prequalify is

to qualify or be qualified in advance.

preapproval

English

Noun

  • approval in advance

    • prequalify

    English

    Adjective

  • To qualify or be qualified in advance
  • *{{quote-news, 2009, January 18, Marcelle S. Fischler, A Windfall for (Some) Buyers, New York Times, url=
    • , passage=Applicants receive debt and mortgage counseling, and are prequalified for mortgages. }}

    Derived terms

    *prequalification