What is pre-qualification?
Pre-qualification for a home loan determines your ability to repay the loan based on the information you provide. If you’re simply gauging your options, getting pre-qualified for a mortgage is a good first step. It doesn’t guarantee approval for a loan — it’s simply an idea of the mortgage amount you might qualify for.
How Do I Get Pre-Qualified?
We take a look at two main things: your assets and income. Your assets and income are reviewed to establish the maximum purchase price you can afford on a home and how much you will be able to borrow. Your credit history will not be reviewed at this time. Fill out the submission form below to get started!
Pre-Qualification vs. Pre-Approval? How Are They Different?
If you’re new to mortgages, pre-qualification and pre-approval might sound like the same thing; however, they play very different roles in the home financing process. While pre-qualifying for a home loan only requires looking at your assets and income, pre-approval entails an in-depth review— including your financial background and credit history— and usually results in an estimated interest rate and approval amount.