What is pre-qualifying?
Pre-qualifying is a process whereby one of our loan officers takes information about you, either over the telephone, from our website, or face-to-face and, after analysis, indicates how much of a mortgage and what type you will qualify for. We would then give you a “pre-qualification certificate” which is of considerable value in dealing with a Realtor or a potential seller. Realtors and sellers are interested in dealing with people whom they know to be able to get the loan necessary to close the deal.
Pre-qualifying is a process whereby one of our Mortgage Advisors gathers information about you, either over the telephone, from our website, or face-to-face and, after analysis, indicates how much of a mortgage and what type you will qualify for. We will run your loan scenario through a computerized automated underwriting system that will provide a “conditional approval” and allow us to issue you a pre-approval letter, which you will need before dealing with a Realtor or a potential seller. Realtors and sellers are interested in dealing with people whom they know to be able to get the loan necessary to close the deal and will be looking for documentation to prove that you have gone through the pre-approval process.
