Prequal NOW

Prequal NOW is a consumer-initiated and consent-based product that gives potential borrowers the opportunity to see the types of loans for which they may qualify. And it does not affect the borrower’s credit score since it is a soft inquiry. If the borrower accepts, they can then move forward with the application process where a full hard inquiry tri-merge credit report is pulled.

Benefits

• Provides a one, two or three bureau report and a FICO® score.
• Soft inquiry that does not affect the borrower’s credit.
• Complete the entire process with the consumer in seconds.
• Lowers the up-front cost for qualifying borrowers.
• Present pre-qualified products to your borrowers.

Highlights

• Lenders can review a credit report with a FICO® score to determine the most profitable leads or to pre-qualify borrowers for a mortgage loan.
• Completed in real time, enabling you to match consumers to loan options at the point of contact. Engaging consumers online, on the phone or face-to-face when they are interested and most likely to respond will generate profitable leads for you.
• Improves the lead-generation process by allowing you to match consumers with the loans to meet their credit profile before they apply – increasing approval rates once the application is submitted.
• Complete the entire process with the consumer in seconds.
• All three bureaus require a written authorization.

Testimonials

“Prequal NOW allows me to grow and protect my future pipeline of customers. I am able to provide potential borrowers the opportunity to see the types of loans they may qualify for at this time. And because it is a soft inquiry, it does not impact their FICO scores and I can protect them from being added to trigger notifications from other lenders. Yet another example of how partnering with Advantage Credit and all of their resources can increase your pipeline.”

– Glenn Dooley, Owning Broker, MAC5 Mortgage Inc.