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  • Add You - Buying a Home: Lender Letters

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    a lender for a specific loan amount.

    As you would imagine, a pre-qualification letter is easier and quicker to obtain than getting pre-appro

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    What do pre-qualification and pre-approval letters accomplish and what is the difference between them?

    A pre-qualification letter is from a lender who has done a quick review of your financial situation and based on the results believes, if additional information is provided you will qualify for a loan. In other words the lender is simply stating that there has been no negative information uncovered preventing you from getting a loan.

    A pre-approval letter indicates a thorough analysis of your credit, income, and assets has been completed and you are pre-approved by a lender for a specific loan amount.

    As you would imagine, a pre-qualification letter is easier and quicker to obtain than getting pre-approv

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    lender who has done a quick review of your financial situation and based on the results believes, if additional information is provided you will qualify for a loan. In other words the lender is simply stating that there has been no negative information uncovered preventing you from getting a loan.

    A pre-approval letter indicates a thorough analysis of your credit, income, and assets has been completed and you are pre-approved by a lender for a specific loan amount.

    As you would imagine, a pre-qualification letter is easier and quicker to obtain than getting pre-appro

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    alify for a loan. In other words the lender is simply stating that there has been no negative information uncovered preventing you from getting a loan.

    A pre-approval letter indicates a thorough analysis of your credit, income, and assets has been completed and you are pre-approved by a lender for a specific loan amount.

    As you would imagine, a pre-qualification letter is easier and quicker to obtain than getting pre-appro

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    loan.

    A pre-approval letter indicates a thorough analysis of your credit, income, and assets has been completed and you are pre-approved by a lender for a specific loan amount.

    As you would imagine, a pre-qualification letter is easier and quicker to obtain than getting pre-appro

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    a lender for a specific loan amount.

    As you would imagine, a pre-qualification letter is easier and quicker to obtain than getting pre-approved but it is often the first step in the approval process. A pre-qualification letter can be issued while information and documentation is being submitted and verified for the pre-approval letter.

    A pre-qualification letter is normally issued by a loan officer after an initial interview, credit check and determining a loan amount. Loan officers and mortgage brokers do not make final loan approval decisions, so a pre-qualification letter is not a commitment to make a loan. Since no verification of information has been completed, the pre-qualification letter is an opinion

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