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.
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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.