Finance
A NH homebuyer's 'pre-qualification' for a mortgage differs from 'pre-approval' in that pre-qualification is:
AA guaranteed loan commitment
BAn informal estimate based on unverified information, without a credit check✓ Correct
CA binding lender commitment for a specific amount
DOnly available for FHA loans
Explanation
Pre-qualification is an informal, preliminary estimate based on self-reported financial information without a full credit check or document verification. Pre-approval involves a full application, credit check, and document review — a stronger commitment.
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