Pre-qualification acts as a dry run of the loan application process. It is the first step before obtaining your Pre-Approval.

The mortgage lender will use details you provide about your:

  • Credit
  • Income
  • Assets
  • Debts

With this information, they will provide you with an estimate of how much mortgage you can afford.

The whole process may take only minutes or a few hours at most and it is free.

It is non-binding to the lender because the information you provide has not yet been verified.



The first step in any home search is finding out exactly how much home you can afford and securing the financing to make the purchase.

While you can get a rough estimate through prequalification, taking the extra step to obtain pre-approval will give you some added advantages.

Pre-approval helps you:

  • Understand your financial condition
  • Know exactly how much home you can afford before you begin your home search
  • Strengthen your purchasing power when making an offer

When you find a home you love and are ready to make an offer, your mortgage pre-approval lets the seller know that you’re serious and fully prepared to buy their home, putting you in a stronger position than other potential buyers.

These days, most sellers will not even accept your offer without being provided with proof of pre-approval by a lender for the amount you are offering for their home, so if you are serious about buying this is the first step towards getting you into a new home.


Need help choosing a lender?

We would be happy to give you the names of a few knowledgeable lenders that we have worked with that can help you begin this process. 

Get More Information:

By clicking Submit, I agree a Coldwell Banker Agent may contact me by phone or text message including by automated means about real estate services, and that I can access real estate services without providing my phone number. I acknowledge that I have read and agree to the Terms of Use and Privacy Policy.