Definition: Prequalified means a loan officer has determined a borrower is cedit worthy and financially able to qualify for a certain loan.
At the time of writing, Elizabeth Weintraub, DRE # 00697006, is a Broker-Associate at Lyon Real Estate in Sacramento, California.
Also Known As: Prequalification
Alternate Spellings: Pre-qualified
Common Misspellings: prequal
Examples:
Prequalification differs from preapproval because prequalified is based on a lender's opinion, not on verification.
