Definition of prequalify
- She prequalified for a mortgage.
- Experts suggest that you pre-qualify for a loan before you begin shopping in order to make sure there will be no deal-killing glitches.
- —Bill Lindsey
- … sometimes, you will prequalify for an amount that won't pan out in the preapproval process. You don't want to look for homes that, in actuality, you can't afford.
- —Donna Raskin and Susan Hawthorne
- To prequalify, contractors are required to complete questionnaires that probe such things as the contractor's financial situation, the experience of the company and its key personnel … .
- —David J. Pratt
- The bank prequalified her for a mortgage.
- … the city prequalified three construction and engineering consortiums to bid on the $535 million project.
- —The Ottawa (Canada) Business Journal
prequalifiedor pre-qualified adjective
- a prequalified buyer/contractor
- prequalified bids
prequalificationplay \ˌprē-ˌkwä-lə-fə-ˈkā-shən\ or pre-qualification noun
- Prequalification means you fill out all the forms and get a commitment from a lender that it will lend you a certain amount of money on prescribed terms …
- —Michael C. Donaldson
- the prequalification process