We recieved the following letter, on letterhead, from a mortgage broker. Is this preapproval, or is this prequalification?
Date: 05/13/2013
Re: NAME
Address: TBD, County
To whom it may concern,
hevj1119 made application with our offices for the purchase of a new home on May 9, 2013. Based
upon the financial information provided (2 years W2’s, tax returns, paystubs, and assets), a fully reviewed
credit report, and a desktop underwriting approval, they qualify for a purchase in the amount of $xxx,xxxx.
USDA financing will be utilized and 100% financing based on the purchase price. This approval is
contingent on clear title, written verification of employment, and a residential property appraisal.
This is not to be interpreted as final loan approval, which is contingent upon verification of submitted
income documentation, clear title, and appraisal.
Lender Business Name is a mortgage lender specializing in FHA, VA, 203k, USDA, and
Conventional financing.
If you have any questions or require additional information, do not hesitate to contact me.
Sincerely,
