How can you offer loan quotes without caring out a credit check
Written by zhaotingting
January 09, 2008 16:51
When you fill out our form, you are applying for a pre-qualification for a loan. Pre-qualification means that certain information about the applicant is provided for the loan officer and the tentative loan decision is made. The borrower is typically asked about their credit standing, as well as other information, such as their employment, assets, income and contact information. Based on this information, the applicant will be told the amount and the interest rate of the loan he is pre-qualified for. This offer is tentative, because no credit check is carried out up until this point, and should the borrower decide to accept the proposed loan, a credit check will be carried out by the lender to confirm the borrower's credibility. Please note that some of the forms are actual applications and do carry out a credit check.
