Step 1: Get Pre-Qualified
Pre-qualification is the starting point of the mortgage journey. By sharing your income, debts, and assets—usually through a short online form—a lender can give you a rough estimate of your borrowing power. Because pre-qualification does not involve a hard credit inquiry or document verification, it typically takes only a few minutes. Use this step to set realistic expectations and identify any areas to strengthen before applying for pre-approval.
Key Takeaways
- ✓ No hard credit pull is required—pre-qualification uses self-reported figures.
- ✓ You will get a rough loan estimate, not a firm commitment from the lender.
- ✓ Use pre-qualification to compare lenders and get a sense of your price range.
- ✓ Discrepancies found during pre-approval may change the estimated amount.
What Happens During Get Pre-Qualified
Detailed content for this step is coming soon. Check back for in-depth guidance on get pre-qualified, including common questions, timelines, and tips from our licensed mortgage advisors.
What You'll Need
- ■ Estimated annual income (all sources)
- ■ Monthly debt obligations (car loans, student loans, credit cards)
- ■ Approximate savings and asset totals
- ■ Desired purchase price or loan amount