The process of determining how much money a prospective home buyer will be eligible to borrow before he or she applies for a loan.

A pre-qualification is a process in which a loan officer calculates the housing-to-income ratio and the total debt-to-income ratio to determine an approximate maximum mortgage loan amount.

Pre-qualification describes the evaluation of potential bidders, before tenders are invited, against a list of criteria to ensure that only bidders which meet defined standards are eligible to bid, wh [..]

Less formal that pre-approval, pre-qualification usually means a written statement from a loan officer indicating his or her opinion that the borrower will be able to become approved for a mortgage loan.

This usually refers to the loan officer's written opinion of the ability of a borrower to qualify for a home loan, after the loan officer has made inquiries about debt, income, and savings. The information provided to the loan officer may have been presented verbally or in the form of documentation, and the loan officer may or may not have rev [..]

, often called a quote, is a process used by a lender to determine how much a potential borrower of a loan or mortgage is eligible to borrow before anything formal is guaranteed and put down on paper. [..]

Same as qualification

Evaluation of a potential borrower's financial status to determine the size and type of mortgage available to the borrower.

A preliminary assessment of a buyer's ability to secure a loan, based on a specific set of lending guidelines and buyer representations made. It usually results in a determination of the amount o [..]

Tentative establishment of a borrower's qualification for a mortgage loan amount of a specific range, based on the borrower's assets, debts, and income.

lender informally determines the maximum amount an individual is eligible to borrow. This is not a guaranty of a loan.

Information given to the loan officer about the borrowers position on his debt, income and savings before granting of a loan. The loan officer may or may not ask for the borrower's credit report. [..]

Qualifying a borrower for a loan amount before looking for a home.

Less formal that pre-approval, pre-qualification usually means a written statement from a loan officer indicating his or her opinion that the borrower will be able to become approved for a mortgage lo [..]

The process whereby the number of qualified bidders is limited by reviewing each bidder’s qualifications against a set of criteria, generally involving experience in the relevant field, capitalisation [..]

A preliminary assessment of a buyer's ability to secure a loan, based on a specific set of lending guidelines and buyer representations made. This is not a guarantee or commitment by a lender to extend credit.

The process of determining how much money a prospective homebuyer will be eligible to borrow prior to application for a loan. Information submitted during pre-qualification is subject to verification [..]

A preliminary analysis of a borrower's ability to afford the purchase of a home. An affordability analysis takes into consideration factors such as income, liabilities, and available funds, along with the type of home loan, the likely taxes and insurance for the home, and the estimated closing costs.

A general analysis of borrowers financial position, with a specific property identified, compared to the Lender’s established guidelines.