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Mortgage Loan Glossary

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Qualification

When you get mortgage loan 'qualification,' it means you can get the mortgage loan you applied for - for sure!

Qualification requirements

In order to get home mortgage loan qualification with most mortgage loan brokerages, you'll need at least one of the following:

• Down payment
• Verifiable income
• Good credit
• Equity in property

And to get commercial mortgage loan qualification with most mortgage loan brokerages, you'll need at least one of the following:

• Down payment
• Verifiable income
• Good credit
• Equity in property
• Purchase property income

Quote

See mortgage loan quote.