Why Get Pre-Qualified?


Finding out how much money you can borrow before you start looking for a home and what those monthly payments are going to be can help you and realtor find the perfect home and make the strongest offer possible on the property you choose.


1. Pre-qualification acts as a dry run of the loan application process. The mortgage lender will use details you provide about your credit, income, assets and debts to arrive at an estimate of how much mortgage you can afford. The whole process may take only minutes or a few hours at most, and is free.

2. While a "pre-qual" is non-binding to the lender (because the information you provide has not been verified), it does serve as a good indication to potential sellers of your general creditworthiness.

3. These days most sellers will NOT accept an offer without at least a pre-approval letter, so if you are serious about buying this is the first step towards getting you in your new home.

4. Preapproval is a little different than a pre-qualification as it's as close as you can get to confirming your creditworthiness without having a purchase contract in place. You will complete the steps in the mortgage application process. The lender will confirm your credit and employment and check your other assets. If you’re preapproved, you’ll receive an offer letter or preapproval letter to lend you up to a specific amount, which is good for 90 days.


I work with a handful of experienced, trustworthy lenders and I'm happy to refer their services to you!



Nova Home Loans

Mortgage Loan Originator

NMLS#: 658584

Cell: 303-709-5147

Email: cschauer@canvas.org

Apply with Chad today!




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