Augusta
VIP Contributor
it is always important that a buyer receives a mortgage pre-approval letter as it will help give themn an idea of what they can afford to buy
. Since this is about securing a mortgage loan, the mortgage pre-approval letter is always issued by the lender with information that will interest the real estate agents. The letter will dentifies the terms of the loan, the loan type and loan amount the buyer qualifies. But first the lender will check the buyer’s debt-to-income ratios same with the buyers cash on hand and credit history.
This letter will help sellers or agents to know whether the buyer has been qualified for financing especially on home offer that isn’t all-cash.
. Since this is about securing a mortgage loan, the mortgage pre-approval letter is always issued by the lender with information that will interest the real estate agents. The letter will dentifies the terms of the loan, the loan type and loan amount the buyer qualifies. But first the lender will check the buyer’s debt-to-income ratios same with the buyers cash on hand and credit history.
This letter will help sellers or agents to know whether the buyer has been qualified for financing especially on home offer that isn’t all-cash.
