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Posted in Mortgage
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Question By
Sheriberi2unu

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Do we need to pre qualify for refi recommendation?
A recommendation was offered to reduce our monthly payments by refinancing. Do we still need to pre qualify? We've talked to a few lenders in the past and provided all the documents and information they wanted which was time consuming, only for them to decline. If what you provided a sure thing? If I hit "take offer", how does that work?

Thank you.

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If you hit "take offer" it is no different than going to a loan officer at the bank.  NO guarantee that you'll qualify.  I don't think there is such a thing as "pre-qualifying" for a re-fi, you either go for it or don't.  Pre-qual refers to purchasing a home, and it's a way to show realtors you're a serious buyer, not just a dreamer.

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