---
title: "Pre-qualification — What It Means | Ondo RE"
canonical: https://www.ondorealestate.com/glossary/pre-qualification/
---

- [Home](/)
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- [Glossary](/glossary/)
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- Pre-qualification
Mortgage & lending[All terms starting with P](/glossary/#letter-P)

# Pre-qualification

Also called: prequalification, pre qual

An early estimate of what you might borrow, based on information you provide rather than verified documentation.

A pre-qualification is a conversation and a rough calculation. Nothing has been verified, so it carries far less weight with a seller than a pre-approval.

It is still useful at the start: it sets a realistic price range before you spend weekends touring homes outside it.

## Put a number on it

This term feeds the calculators below.

- [Home Affordability CalculatorEstimate what home price fits your income, debts, and expenses.](/calculators/affordability/)
- [Required Income CalculatorCalculate the income needed to qualify for your target home price.](/calculators/income/)

## Related terms

- [Pre-approvalA lender’s conditional commitment to lend after reviewing your credit, income, and assets: stronger than a pre-qualification.](/glossary/pre-approval/)
- [DTI (Debt-to-Income Ratio)The share of your gross monthly income taken up by monthly debt payments, including the proposed housing payment.](/glossary/dti/)
- [UnderwritingThe lender’s review of your credit, income, assets, and the property to decide whether the loan can be made.](/glossary/underwriting/)

## Go deeper

- [Get pre-qualified](/qualify/)

## More in Mortgage & lending

- [Amortization](/glossary/amortization/)
- [APR (Annual Percentage Rate)](/glossary/apr/)
- [ARM (Adjustable-Rate Mortgage)](/glossary/arm/)
- [Cash-out refinance](/glossary/cash-out-refinance/)
- [Closing costs](/glossary/closing-costs/)
- [Conforming loan](/glossary/conforming-loan/)

## Have a question about your own situation?

Ondo handles brokerage, lending, property management and notary under one roof, so the answer does not change depending on who you ask.

[Talk to Ondo](/contact/)[Browse all terms](/glossary/)

Loan information is provided by Ondo Real Estate (NMLS ID on file). This is not a commitment to lend, a loan approval, or an offer of credit. Rates, terms, and payments shown are estimates for illustration only, are not a quote, and are subject to credit approval, underwriting, and market conditions. You are not required to use Ondo for financing to buy or sell with Ondo. Equal Housing Lender. Program rules, fees, and county loan limits change. Confirm the current published schedule and lender overlays. Nothing here is a quote, a lock, or a credit decision. [Licensing and disclosures](/licensing/)