To pre-qualify a customer, one of our Loan Specialists uses the financial information you give to them, either through the telephone or using our easy, user-friendly online application to determine the loan amount you can qualify for and the loan program that will best meet your particular needs. Pre-qualification takes only 15 minutes over the phone or 24 hours from the time we receive your application online. Being pre-qualified means that a thorough examination of your income to debt ratios have been put down on paper for you to see but does not mean pre-approved.

Pre-approval is one step beyond pre-qualifying; it means that our Loan Specialist has evaluated, submitted and received approval based on your credit history and the financial information you have provided them.

Many times borrowers are told they are pre-qualified prior to the lender examining in detail the borrower’s complete financial profile leading to frustration and disappointment on the part of the borrower. However, being pre-approved can help you close the loan faster and in the end will spare you much wasted time in frustrating negotiations.

If you are considering buying a home, we strongly recommend pre-approval over simply being pre-qualified.