Here at RatesAreHot.Com We “Pre-Qualify” you for a mortgage…So what does “Pre-qualify” mean you ask?

The term “Pre-qualify” is a term of art in retail finance. It means that a professional loan officer has taken some information from the consumer and has made a tentative decision but not verified any of it. With a Pre-quailfication, RatesAreHot.com does not ask the borrower for their social security number or any other identifiers, so for us its not possible to check credit. However it does mean to that the consumer provides some personal information such as their employment history, income and asset information.In addition the consumer is asked about their credit worthiness. When all of our questions are answered RatesAreHot.com provides a Pre-qualified amount to the consumer. Please remember that when you submit your information to a professional loan officer at a bank or mortgage company they will ask your for your social security number in order to obtain your credit scores.