Mortgage pre-qualification is the term often used when information has been provided by a borrower but is not yet verified. The mortgage professional will analyze the data to determine how much you can afford regarding a home purchase. It is possible that your credit has not been pulled depending on who you meet with. The issue here is that without a full suite of documents to examine and a close look at your credit bureau, your mortgage professional won’t be able to address any potential issues that may occur. For example, in today’s crowded market, you may end up in a bidding war with another buy, which could result in a shorter financing period. You could lose the house of your dreams if an issue with your financing occurs after a real application is taken. How can you avoid this? By getting a real mortgage pre-approval – that’s how!