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Prequalification

• Is an informal assessment of the creditworthiness of a potential borrower. Often it is a quick view of income versus existing obligations and expected obligations. For real estate transactions, it estimates the prospect's potential borrowing and buying capacity.

 
 Embedded terms in definition
 Income
Real estate

<< Prepayments Prerefunded bond >>

Tips for Trying to Fix a Clogged or "Frozen" Home Equity Line: For years, homeowners have turned to home equity lines of credit (HELOCs) as a way to borrow against their home's value to pay for college tuition, home improvements, medical bills and other major expenses. (A home's equity is the market value minus what is owed on the mortgage. If you owe $100,000 on your mortgage but your home is worth $250,000, your equity is $150,000.) More...

If you really put a small value upon yourself, rest assured that the world will not raise your price. - Author Unknown

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