Va Loan Mortgage Pre Qualification no longer called Pre Approval

My husband and I applied for a Mortgage Pre Approval, What we recieved was a Pre Qualification. We used USAA a few years ago while trying to buy a house when the local market was very low, we were unable to find a seller to accept our offer so we held off for a bit at that time we had a pre approval letter, I was very surprised when the women over the phone said she would send over our Pre Qualification letter. I asked if this was indeed a Pre Qual and not A Pre Approval, she assured me that USAA now calls Pre Approvals, Pre Qualifications and this would stand the same as A Pre Approval when writting an offer. Is this the new norm ??? A hard inquiry was hit to both of our credits and we were asked to verify debt on our credit as well. 


Hi Montoyafam4,

A  prequalification is typically not formally underwritten- A borrower verbally tells the bank what their income, assets, and debt are and the bank orders a credit report.


Preapprovals involve the review of pay stubs, asset statements, tax returns etc.


If you would like one of our mortgage specialists to walk you through some of the differences please give us a call at 210-531-USAA (8722). Thank you!

I am a seller that pulled my house off the market for 4 weeks thinking that the prequal ltetter meant something.  It does not.  USAA had denied the loan to my buyer after they paid for appraisal, etc. I have spent hours making preparations and phone  calls for a move by a closing date set by the title company who had a package from USAA two weeks ago. So don't think tht a prequal letter means anything.

Dear Irish Cream,

Thank you for sharing your experience. I have shared your comments with our mortgage department for further review.

Thanks for your reply. We have spoke with them already and was told as stated above that the pre qual stood the same as a pre approval. As stated above we have also gone through this process and received A pre approval letter before without sending in pay stubs and such. I wanted to obtain a pre approval and told that is not the USAA protocol any longer.

Did you get a resolution to this? I called yesterday and was told the same. I now have a pre-qual letter but its not what my real estate agent is requesting nor what I need. I need an actual pre-approval. The market has less real estate and sellers want a bigger commitment. 



Unfortunately no, we do not have an update in regards to when this will be back up and running. We will be sure to post an update here in the community. Thank you for your patience!

@angela so...USAA does not provide pre-approval letters? 

Hi Jelaine,

The pre-approvals are only temporarily suspended as we transition to a new loan origination system. Transitioning to the new system will enable USAA to provide more features and functionality resulting in a better experience for members. Thank you for posting!

My son just went through the same thing.