Many buyers fail to realize that pre-approval for a mortgage is not loan approval. While many understand that they should still be careful with their credit after pre-approval, it can be worth reminding them about a couple of simple truths re: mortgage pre-approval. Use this letter to offer your pre-approved buyers some well-intentioned advice.
- You can send this as an email message.
- With a little modification, you could use this as a blog post, too.
From the letter:
“Congratulations on your mortgage pre-approval! That’s great news. Pre-approval is a crucial step in the home hunting process. Some sellers won’t accept offers unless they know a buyer has loan pre-approval. It’s nice to be able to shop with the pre-approval in your pocket.
It’s important to understand that pre-approval isn’t the same thing as having the loan, though. I only mention this because I want everything to go as smoothly as possible. There are two things you’ll want to keep in mind as we search for your home together.”
Included in the downloadable .zip file is:
- A PDF file with instructions on how to use the letter (and the full copy of the letter)
- Original Word .doc file
- Original plain text .txt file