No. Pre-qualification simply means that a lender has reviewed the preliminary information you have provided, including your monthly or annual income. Based on this preliminary information, the lender will pre-qualify you for a certain amount. A credit check may not have been run and the lender is not yet in receipt of written documentation supporting your claims. You will only qualify and be approved for the loan, when you actually apply and submit all necessary documentation and a credit check proves you are worthy of being approved for the loan or multiple loans.
Information copied from www.realestatewiki.com
Welcome to My Blog!
I have been a resident of the Fox Cities for over 35 years. I was raised in the area and now my wife and I choose to raise our 4 girls here because of the great place it is to live. Being a real estate professional starts with a passion to want to assist other people get what they are looking for. My main focus is on listening to people so I can learn what is most important to them. When a customer closes on their new property it is the start of a life long relationship. It is my goal that people are so delighted with their experience that there is no doubt that not only will they return, but they will also refer their family and friends. As a member of the Werth team our focus on delighting customers has made us the #1 RE/MAX team north of Milwaukee!