Is there a difference between "prequal" and preapproval

Heck yes... big difference. A pre-qualification generally means you've spoken to a lender, who may or may not have taken a full application. They may or may not have pulled credit. But based on the initial conversation, it sounds like you should be OK for a loan. A full pre-approval on the other hand, the lender has for sure taken a full application, reviewed credit, and reviewed you initial supporting documentation, like W2's, pay stubs, bank statements, etc. An initial pre-qualification is OK to get a basic idea of things, but you should NEVER be officially looking at homes without a full pre-qualification. www.JoeMetzler.com - Serving MN and WI.

Yes I would obtain a pre approval they can be free and good for 4 months