Eelatisnõude

Eelatisnõude is an Estonian term that translates to "pre-approval" or "pre-qualification" in English. It refers to a process where a lender, such as a bank, assesses a borrower's financial standing and creditworthiness before a formal loan application is submitted. This assessment helps determine the likelihood of the borrower being approved for a loan and the potential loan amount they might qualify for.

The eelatisnõude process typically involves reviewing a borrower's income, employment history, credit score, and existing debts. By obtaining pre-approval, individuals can gain a clearer understanding of their borrowing capacity, which can be beneficial when searching for properties, vehicles, or other significant purchases. It also signals to sellers that the buyer is a serious and financially capable contender.

While pre-approval does not guarantee final loan approval, it is a crucial step in the mortgage and lending processes in Estonia. It streamlines the subsequent loan application, as many of the initial financial checks have already been completed. This can lead to a quicker closing period for the loan once a property or asset is identified. The information gathered during eelatisnõude helps lenders manage risk and offer more accurate loan terms.