Home Loans: Pre-Approval Letter vs Pre-Qualification Letter

What is the difference between Pre-approval letter and a Pre-qualification letter when shopping for a home. Richard Rackley interviews Lori Pike, Loan Officer with OnQ Financial.
Richard Rackley Real Estate
Weichert, REALTORS® Advantage Plus
865-326-3736 cell
865-474-7100 office
https://richard-rackley.advantageplustn.com/

Full Interview at:
https://youtu.be/ep8TgWXG8Cc

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