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Gerchick Real EstatePREQUALIFICATION FORMDocument updated: February 2017The preprinted portion of this form has been drafted by the Arizona Association of REALTORS. Any change in the preprinted language.

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Pre-qualifying is just the first step. It gives you an idea of how large a loan you'll likely qualify for. Pre-approval is the second step, a conditional commitment to actually grant you the mortgage.

Fill out the pre-qualification form Contact details such as your address and phone number. Your annual income and details about your employment. Other financial information, such as whether you have savings, retirement or investment accounts. Your desired loan amount and loan purpose.

Fill out the pre-qualification form Contact details such as your address and phone number. Your annual income and details about your employment. Other financial information, such as whether you have savings, retirement or investment accounts. Your desired loan amount and loan purpose.

Prequalification is an early step in your homebuying journey. When you prequalify for a home loan, you're getting an estimate of what you might be able to borrow, based on information you provide about your finances, as well as a credit check.

Getting preapproved is a smart step to take when you are ready to put in an offer on a home. It shows sellers that you're a serious homebuyer and that you can secure a mortgage – which makes it more likely that you'll complete your purchase of the home.

What Does Prequalified Mean? Prequalification means the creditor has done at least a basic review of your creditworthiness to determine if you're likely to qualify for a loan or credit card. Consumers may initiate this process when they submit a prequalification application for a loan or card.

The only penalty for not paying the option fee is that the buyer doesn't have the option to terminate. Under Paragraph 23, Termination Option, buyers may pay a fee for the option to terminate the contract within a negotiated number of days.

A prequalification or preapproval letter is a document from a lender stating that the lender is tentatively willing to lend to you, up to a certain loan amount. This document is based on certain assumptions and it is not a guaranteed loan offer.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232