Mortgage Pre-Qualification

Pre-Qualify for a Mortgage

Community Development Bank’s mortgage pre-qualification program will assist you in the planning process to purchase a new home or to refinance the one you already have. This is only the initial step to receive conditional approval, which will determine the amount you qualify for and the time required to process your loan request. Please notice the contrast between a pre-qualification and being conditionally approved, as the following information should assist in a simple interpretation.

Pre-Qualification vs Pre-Approval

When you begin searching for a home or refinancing, you should research the differences between a pre-qualification and a conditional approval. Financial institutions typically make reference to pre-approval as being conditionally approved. Real estate agents often inquire about your pre-qualified or pre-approved status to determine what type of home will match your needs and budget. Mortgage pre-qualification is only a preliminary decision and not a full approval, but will assist you to establish if buying, building or refinancing a home is a possibility.

Complete the Mortgage Pre-Qualification today!

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