What is pre-qualification?
Pre-qualification is an estimate of what you might be able to borrow. It:
- Provides an estimate of your borrowing power.
- Is based on information you provide about your income, assets, and credit score.
- Is offered by most lenders at no cost and does not impact your credit score.
- Pre-qualification is neither a pre-approval nor a commitment to lend; you must submit
additional information for review and approval.
Why get pre-qualified?
- Getting pre-qualified allows you to estimate the loan amount and type that's right for you.
- When you're searching for an investment, you'll know which properties are in your budget.
- It's more likely that a seller on the Roofstock marketplace will accept your offer.
- It will help with a fast and smoother closing process.
Disclaimer: Pre-qualification is neither a pre-approval nor a commitement to lend;
you must submit additional information to the chosen lender for review and approval.