What does it mean to Pre-Qualify?

Mortgage pre-qualification is an assessment by the lender that determines how much can qualify for a home loan or how much a lender is willing to offer you.

How to get pre-qualified for a mortgage?

The initial step to get pre-qualified for a home loan is to find a mortgage lender that works for you. We recommend using this site to find local lenders offering great rates. You will submit basic information about your financial history. If you decide on a lender that meets your requirements, he or she will issue you a pre-qualification letter, which will give you a description of how much you are qualified for.

Why should I use My Mortgage Auction to find a lender?

Many home buyers select lenders based on advice from friends and family, however, it is important to shop around to make sure you are being quoted the best rate and getting the best service. On My Mortgage Action, we pledge to match you with a lender with the most competitive rates for our clients. We encourage transparency on all levels.

Will I get phone calls from lenders?

None of our lenders will call you, just one of our friendly team members to assist you if needed!

Is my information secure?

We are dedicated to keeping your information safe and secure. Our Docu vault offers a secure place to store your financial documents. Even if you are not ready to apply for a mortgage, use our secure Docu- Vault store to your documents SAFELY.

What if I am turned down for my mortgage pre-qualification?

If you don’t qualify for a mortgage pre-qualification, there are some things that you can do to increase your chances: First try to increase your credit score, check for errors on your credit report, reduce debt, and your increase down payment.

How My Mortgage Auction Works

Answer Some Questions

Upload photos of your documents to your secured doc vault right from your phone!

Review Your Lenders

You will have 24 hours to review the offers and hand pick which your local lenders fits best with your lifestyle.

Discuss options & Get a mortgage!

Choose the best rate for you and make an exclusive connection with your mortgage specialist.

How to Pick the Right Lender for You

Lender A

Finding the right mortgage lender

Lender B

Finding the right mortgage lender

Lender C

Finding the right mortgage lender

Pre-qualification is the first step in the mortgage process, My Mortgage Auction makes this process simple. To pre-qualify for a mortgage you will need to provide some basic information about your personal finances. Based on the information you have provided, the lender will estimate how much money you can borrow. The process is relatively informal and the estimate the lender provides you will help you determine how much you can afford when shopping for a home. Because a pre-qualification is only based on the information you have provided to the lender the amount you have been pre-qualified for, is not guaranteed. To be sure of the amount could be approved for you will want to take the process a step further and get pre-approved.

Meeting with lenders can be a long and intimidating process, but it does not need to be. My Mortgage Auction takes the stress out of finding the right lender and saves you hours of travel and meetings. Simply use our app or our secure online application and we will connect you with multiple lenders in your area who want your business! Need some help with your application? No problem! Our friendly support team will help walk you through the process. Oh, and did we mention it is 100% free for borrowers? So what are you waiting for? Let's get started!

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