A pre approval letter for mortgage is one that is required to be obtained by homeowners in order to buy real estate property. The letter is a tentative approval of the maximum amount that a borrower is eligible for a loan. A sample of pre approval letter of mortgage is provided below for best use.
Sample Pre Approval Letter for Mortgage:
Mr. Richard J Paul,
#4, Alice Street,
Date :- 1st August 2013
Sub : Pre approval of mortgage loan
Dear Mr. Richard,
We are glad to inform you that you have been pre approved for a mortgage loan on the basis of the personal and income details provided by you. You are being given a pre approval for a mortgage loan of 50,000 pounds repayable in a tenure of maximum 30 years and at a rate of 1% base home loan interest rate.
Now in order to make use of this pre approved mortgage loan you need to finalize a property which fits into this budget. Subsequent to this our mortgage company will conduct an evaluation of property and ascertain its valuation. Besides we will also undertake your employment and address verification.
It is also necessary that during this period of your availing the mortgage loan there should be no change in your employment and financial status to maintain the pre approval of mortgage intact. While interest rate of mortgage is subject to change at the time of actual mortgage time period it is only an indicative rate that has been quoted to you.
In case of any further query you can call us on 87978900-88.
Wishing you all the best.
Arton Home Finance.