Obtaining A Pre Approval America First Credit Union

Summary

Obtaining A Pre-Approval
A lender’s pre-approval is a limited-time commitment to fund your mortgage loan. A pre-approv-
al may include an interest rate lock. To obtain a pre-approval, a lender evaluates your credit his-
tory, and calculates your housing and debt ratios. You should expect to verify your income, length
of employment and source of down payment

A pre-approval legitimizes you as a serious buyer. It also gives you additional negotiating leverage
to negotiate a sale price, especially if the seller cannot find other pre-approved buyers

When seeking a pre-approval, it’s important not to misrepresent the facts on your application. If
a lender learns later that you’ve misrepresented or omitted information on your application, your
pre-approval may be rescinded

As part of the pre-approval process, a lender obtains your credit report. You should be familiar
with the contents of your credit reports from all three major credit bureaus:
Equifax Experian Trans Union
(800) 685-1111 (888) 397-3742 (800) 888-4213
www.equifax.com www.experian.com www.transunion.com
If a lender denies your pre-approval, you should investigate immediately. Without a pre-approval,
your chances of obtaining a mortgage loan are jeopardized. If a lender bases the decision, in part,
on information in your credit report, you have the right to receive a free copy of the report

Pre-approval may be rescinded. As part of the pre-approval process, a lender obtains your credit report. You should be familiar with the contents of your credit reports from all three major …

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Frequently Asked Questions

Where can i find prequalified bank of america card offers?

The easiest way to search for prequalified Bank of America card offers directly on the issuer’s website. For current Bank of America customers, getting personalized card offers is as easy as signing into your account.

How can i get a bank of america credit card offer?

But occasionally, you can get a targeted offer for a Bank of America card in the mail. Additionally, you can ask if you have any prequalified credit card offers while visiting a Bank of America branch location.

Why choose amfirst credit?

Good credit makes it easy to buy what you want, when you want it⁠—and at the right price. At AmFirst, we want to help you build your credit and long term financial health. We’ll work with you to make sure you have the best accounts, cards, and loans for your unique needs and lifestyle.

Does getting prequalified for a credit card increase your chances?

Applying for a credit card through a prequalified offer absolutely boosts your chances of being approved for the card. Nevertheless, it does not guarantee your approval. There is always a small possibility that you get prequalified for a card and your application is still denied.