Prequalification - Prequalification is the process of determining how much money a borrower is likely to be able to borrow based on their creditworthiness and financial situation. This process typically involves a lender reviewing the borrower's credit score, income, debt, and assets. The lender will then provide the borrower with an estimate of how much they may be able to borrow, which can help the borrower determine how much they can afford to spend on a home.
Back
What does prequalification mean?
Related terms
Escrow Company
Appraisal Fee
FHA disclosure
Administrator
Warranty
Return On Equity (ROE)
Aviation Easement
Actual Age
Utilities Availability (In a Lease)
Building Permit
Loan Constant
Aluminum-Clad Windows
Dutch Colonial Style
Field Changes
Treasury Bills
Purchase Agreement
Cash reserves
New Urbanism
Ready to sell smarter, buy better, and save more?
Join thousands of homeowners who skipped the 6% commission and buyers who received cash back on their next home purchase — all on their terms.
$232M+ saved by
our users.
"They are a business unlike any other. The process was smooth, transparent, and saved me a fortune."
"I was very impressed with this company. Would highly recommend to anyone selling their home."
"With love and gratitude, Mission Accomplished. Beycome made it happen for us."
"Beycome saved us thousands. The platform is simple and the team is incredibly supportive."
"I sold my home in 3 weeks for full asking price. Beycome is the real deal."
"No agent, no commission, no stress. Just results. Beycome delivered on every promise."
"We were skeptical at first but Beycome made selling our home completely painless."
"Best decision we made. The MLS listing got us multiple offers within days."
"They are a business unlike any other. The process was smooth, transparent, and saved me a fortune."
"I was very impressed with this company. Would highly recommend to anyone selling their home."
"With love and gratitude, Mission Accomplished. Beycome made it happen for us."
"Beycome saved us thousands. The platform is simple and the team is incredibly supportive."
"I sold my home in 3 weeks for full asking price. Beycome is the real deal."
"No agent, no commission, no stress. Just results. Beycome delivered on every promise."
"We were skeptical at first but Beycome made selling our home completely painless."
"Best decision we made. The MLS listing got us multiple offers within days."