Being prequalified for a mortgage means nothing more than that you are a good lead. A loan officer will indicate to others involved in the loan process that they have spoken to you in regards to your current assets and liabilities, income and debts to see if you qualify for the mortgage loan amount you are seeking.

Being prequalified means absolutely nothing to securing the final loan until all sources of income are verified. Consider this as fancy speak that you are not wasting their time by being prequalified as a potential home owner.