What is a Pre-approval Letter?

A mortgage pre-approval is based on your credit, income and assets that are verbally disclosed at the time of pre-approval. While we are expressing a desire to fund or broker a mortgage based on your credit and income, this does not constitute a commitment to lend and your application has not yet been approved.  This pre-approval letter simply provides the real estate agent or seller the written pre-approval they need to begin the process.  We have reviewed your credit and income documentation, or that you verbally disclosed to us, and that upon that review with the information provided, we are able to pre-approve you based on that information.

In order to successfully close your loan, you will need to provide current pay stubs, W-2’s and tax returns if required.  Final approval is contingent upon all underwriting guidelines being met.  Such as:  review of an acceptable appraisal (equal to or greater than the purchase price) and title search, all income and assets verified, as well as any other condition an underwriter may note.

  I can get you pre-approved today, in a matter of minutes!

So give us a call today at 757-552-700 or toll free at 1-800- 882-0066