Prequalified vs. preapproved: What’s the difference?
They sound similar, but only one assures home sellers you’re a serious buyer.
5 min read
Apr 15, 2024
David McMillin
Contributor, Personal Finance
David McMillin is a contributor to Bankrate covering personal finance, including mortgages, real estate, student loans and auto loans. From budgeting tips for individuals to funding strategies for aspiring business owners, his goal is simple: to help readers figure out how to save more and stress less. As a musician, he has spent a lot of time worrying about money, as well, and he applies the lessons he’s learned from that financial balancing act to offer practical advice for personal spending decisions.
McMillin studied writing at DePauw University. He is based in Chicago and loves to discover new places. He only needs to visit four more states (Alaska, Oklahoma, Utah and Vermont) to check all 50 off his list.
David's latest articles
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What is a subprime mortgage?
While subprime mortgages exist today, they are subject to more oversight.
7 min read Apr 15, 2024 -
Common home styles and types of houses
There are so many types of houses to choose from — we break down the different styles.
7 min read Apr 05, 2024 -
FHA closing costs: What they are and how much you’ll pay
Like other types of mortgages, FHA loans come with closing costs. Here’s a breakdown of what to expect.
5 min read Apr 04, 2024 -
Guide to 40-year mortgages: What are they and should you get one?
A 40-year mortgage comes with lower monthly payments, but higher interest costs.
5 min read Apr 03, 2024 -
Average closing costs on a house in 2024
Which states have the highest and lowest average closing costs?
4 min read Apr 02, 2024 -
Sell my house fast in Houston
The Houston housing market moves fast, but there are ways to speed things up.
5 min read Mar 28, 2024 -
How a mortgage credit certificate (MCC) lowers the cost of borrowing
Mortgage credit certificates aim to make owning a home a more affordable reality.
6 min read Mar 27, 2024