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Updated over 10 years ago on . Most recent reply

Carlos O.'s profile image
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Carlos O.
  • Investor
  • from Huntington beach, CA
  • Member since Oct 18, 2014
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Carlos O.'s profile image
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Carlos O.
  • Investor
  • from Huntington beach, CA
  • Member since Oct 18, 2014
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Carlos O.
  • Investor
  • Huntington beach, CA
17
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99
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Private Lending & Conventional Mortgage Advice

How accurate is a pre-qual letter?

Carlos O.
  • Investor
  • Huntington beach, CA
Posted

Hi everyone,

I just have a quick question for those that got pre-qualified before getting a loan. The pre-qual letters shows the amounts approved for and the interest rate. How likely is that you will get the noted interest rate or very close to it when actually applying for the loan?

Carlos O.

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Wayne Brooks
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  • from West Palm Beach, Florida
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Wayne Brooks
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
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The quoted interest rate is Not meant to be any type of lock.  It is merely stated as the rate that was used to qualify you.

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