Pre-Qualification

How Your Clients can Benefit from Pre-Qualification

If your clients are seriously considering purchasing a property, it will work to their advantage to be pre-qualified. In fact, we require anyone interested in buying one of our REO to pre-qualify for a loan with us. We do this to establish that a prospective buyer is financially capable up front. However, a prospective buyer is not required to obtain a loan from us to buy a REO. After your clients are pre-qualified, they can better plan and prepare financially for meeting their home ownership goals, and will have a better sense of what size monthly mortgage payment they can afford.

How Does Pre-Qualification Work?

When we pre-qualify your clients, we will ask them to provide us with a picture of their financial situation (debt, income and assets) and we will use that information to give them an idea of what size mortgage they may qualify for. It’s that simple. While pre-qualification is different from submitting a full mortgage application and doesn't guarantee they will be approved for a loan, it is an immensely useful tool in the home buying preparation process.

Tell Your Clients to Get Pre-Qualified for a Mortgage from Fay Today!

We’ll provide your clients with a pre-qualification and consultation AT NO COST to determine how much they can afford and identify the mortgage program that best meets their needs. It’s the first step in the mortgage application process. Here's how easy it is to pre-qualify with us.


Fay Mortgage Services is a division of Fay Servicing, LLC. Illinois Residential Mortgage Licensee NMLS ID 88244. Illinois Department of Financial and Professional Regulation.
440 S. LaSalle Street, Suite 2000, Chicago, IL 60605.

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