Guests: Casey Oiness and Colin TippSummaryIn this conversation, Joe, Casey, and Colin from Guild Mortgage discuss the essential differences between pre-qualification, pre-approval, and pre-underwriting in the mortgage process. They emphasize the importance of pre-underwriting as a means to enhance buyer confidence and competitiveness in the housing market. The discussion also covers the necessary documentation for pre-approval and pre-underwriting, the impact of credit checks, and the streamlined processes that Guild Mortgage employs to assist clients effectively.TakeawaysPre-qualification is often not worth the paper it's printed on.A pre-approval is the baseline for any serious buyer.Pre-underwriting provides the highest level of confidence for buyers.Documentation is crucial to avoid surprises during the loan process.The pre-underwriting process can typically be completed in 24-48 hours.A soft pull can be used for pre-underwriting, but a hard pull is needed to close the loan.Pre-approval remains valid as long as there are no material changes in the buyer's situation.Clients should be advised on how to improve their credit before applying.Providing a complete financial picture helps streamline the underwriting process.Less documentation can lead to more questions from underwriters.Thank you for listening to RealTalk! Don’t forget to like and subscribe, and follow Joe on Instagram (@seattlesagent) for the latest videos. And don’t forget to check out The Seattle Experience with Joe Sheldon podcast on YouTube or your favorite podcast app. For more information about Joe, or to work with Joe, visit www.myseattlesearch.com.