Pre-qualification, often called a quote, is a process used by a lender to determine how much a potential borrower of a loan or mortgage is eligible to borrow before anything formal is guaranteed and put down on paper.
Pre-Qualification
The process of determining how much money a prospective home buyer will be eligible to borrow before he or she applies for a loan.
Pre-Qualification - A meeting with a lender or mortgage broker to determine how much money the lender would probably be willing to lend to the borrower and how much the monthly payments would be. This is usually a free service with no guarantees.
Pre-Qualification: Gives you an estimate of how much you may be able to borrow.
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Pre-qualification of bidders:
The selection of potential suppliers to whom the tender notices for proposed purchases may be sent.
Pre-Qualification - The process by which a mortgage lender determines the amount of loan you are eligible to receive based on your stated income, monthly expenses, and other items.
Pre-Qualification
A preliminary stage prior to bidding process, where the applicant is verified of whether he has the resources and the ability to do a given job.
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Pre-qualification
An informal process where a lender gives an estimate of how much a person can borrow to purchase a property. This estimate is based entirely on financial information provided by the potential borrower.
Pre-Qualification Questionnaire. This questionnaire assesses the suitability and quality of bidders who have been selected following the Expression of Interest (EOI) stage.
Qualification is sometimes referred to as "pre-qualification" because it is subject to verification of the information provided by the applicant.
^ Getting Pre-Approved for a Mortgage - Pre-Approval vs. Pre-Qualification
[edit] See also
Credit
Mortgage loan ...
Ranbaxy Laboratories (RANB.BO: Quote, Profile, Research) rose 0.8 percent to 415.40 rupees after the country's top drug maker by sales said it has received the World Health Organization pre-qualification for its Indinavir anti-retroviral AIDS drug.
 See also: Banks, Escrow, Expense, Refinance, Foreclosure
  
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