Pre-qualifying v. Pre-approval

The Similarities

Pre-Approvals and Pre-Qualifications

  • Both can help estimate the funding amount that you will likely receive in the labeled offer. This can help you save time by starting your funding search by looking only at offers that you know fit within your desired range.

The Difference

The difference is based on the amount listed in the offer.

  • Pre-qualification offers list an amount of funding you've qualified based on application information.

    • This means the amount is likely within a range and will have a prefixed "up to" in front of the amount.

  • Pre-approval offers list the amount of funding you've been approved for based on application information.

    • This means the amount is the exact amount approved for.

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Dinote provides you with easy online application services to access financing options from third party lenders. Dinote is not a loan provider or other funding provider and does not provide actual loans. Approval of an actual advance from a third-party lender is subject to a separate assessment process by the third-party lender and the advance is subject to the third-party lender's terms and conditions. Advance approval time may vary and is not guaranteed.

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