# Prequalification letter

A lender's written, non-binding read that a buyer looks financeable.

Brokers ask for one before they share financials, so it is the artifact that opens doors during sourcing, not a financing step to leave for later. It commits nobody: the number moves once the lender reads the actual deal, and it is a different thing from a [commitment letter](https://searchspheresource.com/glossary/commitment-letter), which arrives after underwriting. Several desks turn one around in 48 to 72 hours from a personal financial statement. Get one early from a lender whose box fits your size, and refresh it when your target range changes so you are not mailing a stale figure.

In numbers: A buyer with a $400k injection asks a desk quoting 48-to-72-hour prequalification for a letter supporting a $4M purchase, and walks into broker calls with it attached.

Source: https://searchspheresource.com/glossary/prequalification-letter
Not dated: A definition is editorial: what a term means, why it matters, and an example. None of it reads a source that can go stale, so there is no date to take and a stamped one would be the build time wearing a costume.

Site index for machines: https://searchspheresource.com/llms.txt