Home Loan Pre-Qualification Letter
Common questions
What is a pre-qualification letter?
It's a short letter from a lender or broker that says, based on the income, debts, and credit picture you shared, roughly how much home you may qualify to buy. Real estate agents often ask for one before scheduling showings, and many sellers want to see one attached to an offer. It's an estimate — not a loan approval or a commitment to lend.
How fast can I get one?
Often the same day. A pre-qualification is based on a conversation about your numbers, so once Miguel has your basic income, debt, and down payment picture, the letter can usually go out within hours — sometimes while you're still on the phone.
What's the difference between pre-qualification and pre-approval?
Pre-qualification is an estimate based on what you tell us — fast and informal. Pre-approval goes further: we verify your documents (pay stubs, bank statements, tax returns) and run credit, so the letter carries more weight with sellers. Most buyers start with a pre-qualification to begin touring, then move to pre-approval before making offers in a competitive market.
Does getting pre-qualified hurt my credit?
A basic pre-qualification can be done with a soft credit check or no credit pull at all, which doesn't affect your score. If we move to a full pre-approval, that involves a standard mortgage credit inquiry — and multiple mortgage inquiries within a short shopping window are typically counted as one.
How long is the letter good for?
Most agents and sellers treat a letter as current for about 60 to 90 days. If your search runs longer, or your income or debts change, just call — refreshing the letter takes minutes.
Does a pre-qualification letter guarantee my loan?
No. It reflects what you may qualify for based on the information provided, before documents are verified or the property is identified. Final approval depends on full underwriting — verified income, credit, appraisal, and the rest. We'll be straight with you at every step about where you stand.