Pre-Qualifying

Prequalifying is a process whereby a Challenge Consultant takes information about you, either over the telephone or face-to-face and indicates how big a loan of a particular type you will qualify for.

Then Challenge Mortgages would then give you a "prequalifying letter" which is of considerable value in dealing with a Realtor or a potential home seller. Real Estate Agents and sellers are interested in dealing with people whom they know to be able to get the loan necessary to close the deal.

We prefer to get the income and asset information from you, get a loan application and prequalifying credit report and then write the letter. We are willing to make exceptions if time is critical.