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2. Prequalified vs. preapproved: What’s the difference? - AOL

   www.aol.com/finance/prequalified-vs-preapproved...

   Key takeaways. Prequalification is a simple, quick process that provides a general indication whether you would qualify for a mortgage. Preapproval requires providing extensive documentation ...

3. 20 Questions You Need To Ask Your Car Dealer Before You Buy - AOL

   www.aol.com/finance/20-questions-ask-car-dealer...

   The best way to get a great deal on auto financing is to have a pre-approved auto loan long before you head to the dealership. If you don't have an offer in hand, the dealership won't have any ...

4. What’s the Difference Between Being Prequalified and ... - AOL

   www.aol.com/difference-between-being-pre...

   A preapproval will also come with a letter, but this time there will be a lot more detail, like your specific loan amount and interest rate, which will allow you to get a firm estimate of your ...

5. Pre-qualification - Wikipedia

   en.wikipedia.org/wiki/Pre-qualification

   In a mortgage context, pre-qualification denotes a process that has not yet been underwritten by the lending institution. Typically, subprime lenders will allow 50% DTI. . Common monthly debts used for calculating DTI are mortgage (or new mortgage payment), auto payment(s), minimum credit card payment(s), student loans, and any other common monthly or revolving debt that is on the applicant's ...

6. Pre-approval - Wikipedia

   en.wikipedia.org/wiki/Pre-approval

   In lending, a pre-approval is the pre-qualification for a loan or mortgage of a certain value range. [1]For a general loan a lender, via public or proprietary information, feels that a potential borrower is completely credit-worthy enough for a certain credit product, and approaches the potential customer with a guarantee that should they want that product, they would be guaranteed to get it.

7. Loan origination - Wikipedia

   en.wikipedia.org/wiki/Loan_origination

   Prequalify (auto-decision) the application and return a quick response to the applicant. Typically this would be approved subject to stipulations, referred to the financial institution, declined (many financial institutions (FIs) shy away from this preferring to refer any application that can't be automatically pre-approved.)