Established Contributor
FICO_Focused
Posts: 905
Registered: ‎05-09-2007
Re: pre-approval letters


Eagle1 wrote:
My understanding is a prequal is a cursory look at your finances/ credit based on info you provide, and a preapproval is a commitment to lend you said amount following a more scrutinized look at documentation by the underwriters. The prequal is not a commitment.


If it came in the mail it is based on voodoo.:smileywink:
 
Rob