What Is a Loan Prequalification?

Answer

A loan pre-qualification is the information obtained from the borrower by the loan officer. This includes his credit worthiness, employment and asset value among others. This information will be used to determine the amount of loan the borrower is entitled to.
Q&A Related to "What Is a Loan Prequalification"
A prequalification can be done over the phone, in person or online. It's a relatively quick process during which a person will be asked to provide information regarding his finances
http://www.ehow.com/about_7355514_requirements-mor...
A loan pre-qualification calculator is basically a program that calculates your ability to qualify for a mortgage or a loan. You can find a free one on Bankrate's site.
http://wiki.answers.com/Q/What_is_a_loan_prequalif...
O.k., first off, I don't and won't have 10%. Â I will hopefully have 5% though. Â Also, I guess I should be asking how long the credit check is good for and not the prequalify
http://www.zillow.com/advice-thread/Questions/Mort...
I suspect that Countrywide is the lender of the record on the homes that are FHA or VA foreclosures which is why Countrywide is the company you are instructed to work through for
http://www.trulia.com/voices/Home_Buying/Why_do_FH...
Explore this Topic
A prequalification can be done over the phone, in person or online. It's a relatively quick process during which a person will be asked to provide information ...
1. When you fill out a home loan prequalification form if you are renting a house at the present you will need the name and address of your landlords from the ...
1. Approach a mortgage lender or broker and tell him that you intend to take out a home loan soon. Ask for a quick pre-qualification to estimate your maximum loan ...
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