Finance
1435 North 1200 West
Orem, UT 84057
801-225-4120
Toll Free: 800-55-TRUTH
Sample Pre-Approval Letter
When buying a house, you may get pre-qualified or pre-approved. Pre-qualification is not as beneficial as a pre-approval, which includes verification of your credit, income, assets and liabilities. We highly recommend that you get pre-approved before you start looking for a house. Here's why:
- You'll find out how much you can afford so you don't spend time looking for properties outside your price range.
- You'll strengthen your negotiating position.
- You'll be able to close more quickly.
SAMPLE |
| Pre-Approval Date: | 02/07/07 | Loan Program: | Non-Conf 30 Yr Fixed Full Doc | |
| Loan Use: | Purchase | Property Use: | Primary Residence | |
| 1st Mortgage Amount: | $570,000 | Property Type: | 1 Family | |
| Loan To Value (LTV): | 71.250 % | Combined LTV: | 83.750 % | |
| 2nd Mortgage Amount: | $100,000 | 2nd Loan Program: | Home Equity Line of Credit | |
| PPP: | None |
This Pre-Approval is subject to the verification of all information including a satisfactory appraisal of the subject property and a final underwriting decision.
This is not a commitment for a loan or for a specific rate. Any rates quoted are only an indication of current rates at the time of this Pre-Approval Letter. This is a preliminary determination that you qualify for a mortgage loan under our lending standards and guidelines.
Please call me if you have any questions.
Sincerely,
John Doe, Loan Officer
Sample Mortgage Company
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