- Verbal - Borrowers verbally provide their loan officer with income and debt information. A building budget amount is given at this time based off of the provided information. Pre-qualification is only as accurate as the information provided by the borrower(s). No application has been taken at this time. An online pre-qualification can also be done on our website: Pre-Qualify.

- Credit Report - The documented payment history of anyone issued a line of credit. For example: car loans, student loans, credit cards, etc. We recommend that borrowers allow Preferred Capital Mortgage Services to review a credit report at the Pre-Qualification stage. However, it is at the borrower's discretion.

- Time Table - Financing paperwork is recommended to get underway at least 60-90 days prior to breaking ground.

- Loan Amount - The loan amount provided in a pre-qualification takes into consideration the construction costs and land acquisition (if applicable). Please be advised that if the loan amount does not cover these expenses, the borrowers need to show the proper assets to cover the difference.

***It is VERY IMPORTANT to note that a pre-qualification is not a mortgage approval. The borrower(s) must make a formal application and an American Home Bank underwriter must issue a mortgage commitment letter that designates approval.***