Glossary

Pre-Qualification

A soft-pull estimate of what a lender might approve you for.

Pre-qualification uses a soft credit pull, doesn't impact your score, and gives you ballpark rate/amount estimates. It's not a guaranteed offer — that requires a formal pre-approval (hard pull).

Related terms

Pre-Approval

A lender's formal commitment to lend you a specific amount at a specific rate, contingent on final verification.

Soft Credit Pull

A credit inquiry that does not affect your credit score.

Put it into practice

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