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Prequalification Letters for a Home Mortgage
What Are They?
As you begin searching for a home, real estate agents and sellers may want to see if you’ve been working with a mortgage lender so they know you can afford to buy a home. After you’ve been prequalified, you’ll usually receive a “prequalification letter” you can show to an agent or seller as proof you’re working with a lender. This is a good first step, but it typically won’t carry as much weight as a preapproval because a lender hasn’t yet verified your information. Going beyond prequalification and getting preapproved is a critical step to showing you’re serious about buying a home.
Need one? Call Cash Mortgage at (855) 768-3927 or (409) 771-6893