Skip to Content

The Home Buying Process

Step 3 Of 6

Pre-Qualification vs. Conditional Loan Approval?


Getting pre-qualified is like getting an estimate from a lender, detailing how much of a loan you can likely afford. It serves more as a guide of what you may qualify for, rather than a conditional loan approval. Pre-qualification is helpful for determining the loan amount you can afford. Open the "Getting Pre-Qualified" window below to get pre-qualified.

Conditional Loan Approval

Conditional Loan Approval means that you complete a loan application and provide salary, asset, and credit documentation. We then verify the information you provided and if it meets our guidelines, a Conditional Approval Letter is issued. A credit report is generated for each borrower during the conditional loan approval process. Click on the Apply button on the right to start the process.

Getting Pre-Qualified

Use this calculator to determine how much you can afford and generate a pre-qualification letter for certain loan types. If you don't know what loan is right for you, visit our Loan Consultant feature first.

Monthly private mortgage insurance (PMI), if required, will not appear in the Total Monthly Payment (PITI) in the Pre-Qualify Summary. Please use the Loan Consultant to see full payment information, including PMI.

Estimate pre-qualification

Exclude any loans with less than 10 payments left

Select monthly expenses

** If you have a co-borrower who is not your spouse on your application and you are applying for a VA loan, the co-borrower must also be a veteran.

including you

Mortgage Rates

The Loan Consultant feature determines the products and rates that match your needs.

Ready to Start?

To apply for your easy online loan, all you have to do is answer a few simple questions about yourself, your property and your income, debts and assets.