If a lender prequalifies you for a loan, it is telling you that you appear to be good candidate for a loan based on some basic information it has on you or that you supplied to it, such as your debts, income, or credit score. (ifsautoloans.com)
«If you have a $ 200,000 mortgage on a house worth $ 250,000, and you have $ 200,000 in student loans, the bank may not see you as a good candidate for a loan,» Hoeksema says. (entrepreneur.com)
Before entering the real estate market, it would be wise to speak to a mortgage lender to see if you're a good candidate for a loan (and to find out how much you can borrow). (bpfund.com)