Why Get Pre-Qualified Or Pre-Approved?


1. Pre-qualification acts as a dry run of the loan application process. The mortgage lender will use details you provide about your credit, income, assets and debts to arrive at an estimate of how much mortgage you can afford. The whole process may take only minutes or a few hours at most, and is free.

2. While a "pre-qual" is non-binding to the lender (because the information you provide has not been verified), it does serve as a good indication to potential sellers of your general creditworthiness. It is a "soft inquiry" and won't hurt your credit on its own.

3. These days most sellers will NOT accept an offer without at least a pre-approval letter, so if you are serious about buying this is the first step towards getting you in your new home.


1. A Pre-Approval is much more valuable because this means the lender has actually checked your credit and verified your documentation to approve a specific loan amount (usually for a particular time period such

2.  Granting a lender permission to pull your scores constitutes what’s known as a “hard inquiry” but don't be deterred.  Why look at homes that don't fit your income and expenses.

3.  Pre-Approval letters are provided when you submit an offer. It shows that you qualify for the loan and that means a lot during any negotiation! 

If you want to get Pre-Qualified or Pre-Approved? Talk to our in-house mortgage banker, Matt Dosen. His website is below for your convenience!

Do you want to see if you qualify for a mortgage? Call -Matt Dosen, Mortgage Broker -Guaranteed Rate Infinity

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