A pre-approval letter helps a potential homebuyer know the range of homes for which they qualify for a mortgage and assures they could qualify to purchase the house they love as their home.

 Any of our Preferred Lenders will be able to help you walk through the mortgage approval process, which begins with a pre-approval letter from the lender. The pre-approval letter is a written statement determined by the lender based on certain criteria from you and other sources that shows your maximum mortgage payment ability.

 Pre-approval letters are subject to modification or cancellation if your financial situation or other conditions change, and do not guarantee a mortgage. A pre-approval letter is not an offer to lend, a commitment to make a loan, or a guarantee of specific rates or terms, and is not an application for credit.

Although a lot of homebuyers are concerned about a pre-approval letter impacting their credit score, talk to the Preferred Lender and request a “soft-pull credit report” that will not impact your credit score at all.