A preapproval is a letter from a mortgage lender that is provided to a buyer for the purpose of identifying how big of a loan he or she will qualify for. It lays out the type of loan (conventional, FHA, VA), the percentage of down payment required, the interest rate, and the total monthly payment. It may or may not be issued specific to a given property. A preapproval letter is essential to making an offer on a home. Why? Most importantly, it shows the seller that the buyer is truly … (0 comments)
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She's very nice, straightforward and enthusiastic. She carefully showed every house that I might be interested in, answering all my questions ... more
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Laurie has been great help and patient showing us properties for our first home. Our sale was from a short-sale listing and she had the expertise and ... more
What is a preapproval and why do I need one?
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