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Pre-Qualification, Pre-Approval and Commitment

There are several stages to every mortgage loan process, and the early ones are often some of the most important. What you do early in the process can set the table for the rest of it, and as your go-to mortgage company, we at City Creek Mortgage are here to make sure you don’t slip up.

In particular, there are three important elements to remember: Pre-qualification, pre-approval and finally, the loan commitment itself. Let’s look at each, and how they differ.


Pre-qualification is the most informal and simple of the early mortgage processes, and is typically one of the first steps you’ll take. You’ll give basic finances to a lender – debts, income and basic assets. Pre-qualification generally doesn’t include elements like a credit report or investigations into your purchasing ability.

Pre-qualification is never a concrete thing, but rather a broad idea of what kinds of situations you might qualify for. It’s a great time to ask any questions about goals or needs you have with your mortgage, and to get some professional advice on your financial situation as it relates to a mortgage.


Pre-approval is similar to pre-qualification and is often confuse with it, but the two are not the same and the differences are important. Pre-approval is a more detailed and official process. It includes credit and background checks that pre-qualification does not, and when it’s finished, pre-approval will result in a conditional commitment in writing for an exact loan amount. With this number, you can begin shopping around for financing within that range.

Loan Commitment

When you’ve found a lender in your price range and are ready to finalize the real thing, it’s time for a loan commitment. The lender will have already taken the steps to confirm you as an approved borrower, and to confirm your home. Many will run one extra final check to ensure there have been no big changes to your income or credit since pre-approval, and then you’ll be all set.

Want to learn more about the mortgage process, or any part of our services? Speak to the brokers at City Creek Mortgage today.

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