Pre-Qualification

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Prequalification

The act or process of determining the approximate amount a borrower will be able to borrow before he/she actually applies for a loan. Prequalification looks at the borrower's current income and debt to make this determination. Prequalification is most common with mortgages. Because the borrower has not applied for the loan, it is not a guarantee of approval, but is rather an estimation. See also: Pre-approval.

Pre-Qualification

Same as Qualification.
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References in periodicals archive ?
The Swedish embedded systems programming tools developer IAR Systems AB said on Thursday (14 October) that it had agreed to sell all rights to its testing product family IAR PreQual to an unnamed buyer.
Swedish embedded systems programming tools developer IAR Systems AB said on Friday (13 August) that it had signed an agreement in principle regarding the sale of its PreQual product.
PreQual is a testing tool for Bluetooth-enabled applications.
IAR Systems also provides a total solution for Bluetooth protocol stacks and applications, from development of Bluetooth devices to qualification, using IAR PreQual. IAR Design Services injects engineering expertise and experience into embedded system projects.