At Pegasus, we make every effort to get all of our clients a mortgage that works for them. In order to ensure that a borrower can qualify for a mortgage, our Loan Officers do a Pre-Qualification, sometimes better known as a Pre-Approval to determine the eligibility for a mortgage loan. During Pre-Qualification a loan officer will collect all relevant information required, and based on the information you have given, we will inform you of your chances in obtaining a mortgage, the loan amount and the approximate term of loan.

Is Pre-Qualification a Guarantee?

Pre-Qualification is not a guarantee of loan approval. It is just an estimate based on our expert opinion on how much of a mortgage loan a potential borrower can get. We collect information such as your debt and income level to help us assess whether an application is qualified to be processed. The information collected at this stage will be cross-checked against your provided documents in the later stages of the loan process.