What is the difference between the pre-qualification process and the application process?

The pre-qualification process gives an estimate of how much you might be able to borrow using basic credit information, while the full application involves a more detailed review of your financial history, income, and documentation to determine the amount you are approved for.

Please note, filling out the pre-qualification form results in a soft hit on your credit, while filling out the full application can result in a hard hit on your credit.