Prequalification Letters
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MUST HAVE FOR PROPERTY VERIFICATION - GOOD FOR 90 DAYS
The Prequalification Letter provides the Buyer with verification from the lender that a loan estimate on how much the Buyer could be approved for.
Why should you get Prequalified?
1. You shop with confidence knowing your financial picture and budget verification.
2. Provides your Real Estate Agent with a clear picture of your finances so you can stay on track.
3. Early detection of potential credit issues you can resolve.
Prequalification or Preapproval?
Both are communication from a lender on how much they are willing to lend the buyer. Neither is a guarantee of a loan offer. Verify your Real Estate Agent reviews the letter and verifies it has the necessary information.