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  2. To prequalify you, lenders will typically ask you for some financial information like your income and what other assets you have. They may also run a credit check.

  3. Mortgage prequalification vs. preapproval: Which is best? - AOL

    www.aol.com/finance/mortgage-prequalification-vs...

    Lenders may differ in how they use the terms, but a mortgage preapproval is generally the more thorough and helpful in determining how large of a mortgage you can get. Mortgage prequalification vs ...

  4. 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 ...

  5. Loan origination - Wikipedia

    en.wikipedia.org/wiki/Loan_origination

    The application should pre-fill demographic data if the applicant is an existing client and has logged in. Make it easy, quick, and friendly for the applicant (so they actually complete the application and don't abandon) Get a current credit report; Prequalify (auto-decision) the application and return a quick response to the applicant.

  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. 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 ...

  8. Mortgage prequalification vs. preapproval: How to time these ...

    www.aol.com/finance/mortgage-prequalification-vs...

    Preapproval: What it is and how it works. Preapproval is a much more comprehensive process than prequalification. Mortgage preapproval is a lender's conditional commitment to offer you a specific ...

  9. A mortgage prequalification is an estimate of how much a borrower can be approved for based on their income and their financial obligations. Think of it as the first step in getting a sense of how ...

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