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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.


To estimate the most expensive home a borrower can afford to buy with the assets, income,and expected loan amount and terms for which the borrower might be eligible.

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Metropolitan is seeking to prequalify experienced and qualified suppliers to provide Membrane Bioreactor (MBR).
The site, which is interactive, helps consumers make a comparison of different loan products offered by a variety of national lenders - including, from the beginning, HomeSide - and to prequalify for one of the loans.
At the start of the month, TDIC invited contractors to prequalify for coastal protection works at the same location, part of its Desert Islands development.
This Request for Written Quotes is intended to prequalify vendors to secure the services of experienced and licensed vendors to provide Abatement Services.
Consultants are also invited to prequalify by June 16, 2006 for Design of a Public Communications Strategy.
3) Bidders attempt to prequalify BY CATEGORY by responding to the solicitations.
Firms are invited to prequalify for the Farmer Training & Development (FTD) Activity ($US30.
Application to Prequalify for Procurement of Bulk Water Supply System in Durres Region.
Business will prequalify once and this will streamline compliance requirements making it easier for them to compete for government contracts.