What does a "Conditional Pre-Approval" actually mean?
A conditional pre-approval means a "soft pull" credit check is performed using general information provided through a secured service. A "soft pull" credit check has no impact on your credit file.
While a conditional pre-approval is not the same as a final approval obtained by the lender, we are able to provide a detailed quote for your consideration. (A final approval will require a hard inquiry and review of your credit file.) A detailed quote will provide you with rate, term and monthly payment estimates.
What is the process to obtain a Conditional Pre-Approval?
Easy as 1, 2, 3!
Click the "Conditional Pre-Approval" button.
Enter all necessary information clicking submit when finished.
Please advise the vehicle year/make/model and purchase price in the comments field.
Receive a phone call/email from a loan officer with a detailed quote.
Review detailed quote for consideration - Easily submit your application using the link provided in this email to obtain a final approval for your loan request.
We will use the soft pull information provided to determine the most accurate quote without a hard inquiry impacting your credit file. Once the quote is emailed you can expect a phone call from a loan officer who will review your personalized quote answering any questions you have. If you wish to proceed we are able to take the remaining information by phone to submit to the underwriting department for final approval.
Please note; all final credit decisions are subject to underwriting final consideration and will take payment history, credit score, debt to income ratios, and any other applicable factors into consideration. A conditional pre-approval may not be used as a final approval.