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Mortgage prequalification is an informal evaluation by a qualified mortgage professional of your creditworthiness and how much of a home you can afford to buy. Prequalification is an indication of whether you meet the minimum requirements for a home loan and how big that loan may be.


Prequalification is a very important step for those who are not sure if they’re financially ready for homeownership or if they would like to give their real estate professional more ammunition when shopping for a home. If you’re confident in your finances or have already been pre-qualified, you might want to get pre-approved instead, which is a complete underwriting of your loan package in advance showing the homeowner that you are qualified and ready to make a purchase. 

To calculate how much mortgage you’ll be able to prequalify for, we take into account your credit profile, annual income, and expected loan term and interest rate, as well as your monthly debt payments and potential home-related expenses.

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What is a mortgage preapproval and why does it matter?

A mortgage preapproval is a letter from a lender that indicates how much of a home loan you can be qualified for, this is issued after the lender has evaluated your financial history.  This includes pulling your credit report and your FICO score. With a preapproval letter, you can find a home that you can afford while at the same time showing the seller that you are a serious buyer making pricing negotiations easier.

A mortgage preapproval letter can put you ahead of other buyers that may be interested in the same home as you. Your offer will be taken more seriously than others.

The information for the underwriting of a pre-approval is the same as the documentation that you will be submitting for your loan. You can start your application here.

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