Pre-qualification starts with questions regarding your income, monthly debt, employment and available cash down.

A credit report is done, generally from all three major credit bureaus.

The loan officer reviews all of your information and determines the best loan for you and the amount you may qualify for.

The loan officer may issue you a Pre-qualification Certificate or letter.

In simple terms, a pre-qualification is ONLY the loan officer's OPINION of your ability to obtain a mortgage loan.

Pre-approval begins first with a pre-qualification as described above.

A mortgage loan application and loan disclosure documents are signed.

You furnish documents such as pay stubs, bank statements, employment information and the last two years W-2s.

You actually apply for a loan even though you have not yet found a property to purchase.

Your loan is processed and then sent to the underwriters for approval. When approved, you are given a firm loan commitment from the lender.

When you find your new home, an appraisal on the property is done and you are READY TO CLOSE!!

Simple....  Easy.....  And there is no cost to be pre-approved!