To get prequalified, you’ll need to complete an application. We’ll review your credit report, income, and assets stated on your application. If you qualify, you’ll receive a prequalification letter for the amount you requested or the amount we’re able to loan. The letter defines the price range you should stay in as you look for your new home.
When you find the home you want, present the prequalification letter to the seller. This letter shows them that you are prequalified for financing. It can make the difference between getting the home you want and watching another bidder step in and snatch that house away. Prequalification letters are good for 60 days.