Pre-Approval or Pre-Qualification!! Which is best

I get asked frequently "Why is Pre-Approval important?
For Home Sellers, Pre-Approval is stronger evidence of a buyer's ability to complete a home purchase, whereas Pre-Qualification (although quick and easy) is not as good an indicator.

Given that most people don't have the hundreds of thousands dollars lying about to purchase a home, securing a mortgage is a very important step in the buying process. In order the Buyers become approved for a mortgage, lenders require income verification, credit card and other loan stubs, credit statements, etc. to carefully determine whether the buyer meets all the requirements for the amount and terms; and therefore will be able to continue to settlement.

Buyers also benifit from Pre-Approval:
Since there are several non-refundable expenses during the purchase process, the sooner a buyer uncovers any reason why they might not be able to secure a mortgage means less money lost. Getting Pre-Approved while still looking is far superior to finding out after the fact.