Get a Mortgage Pre-Approval Letter Back in the wildcat mortgage days of the 1980's and 90's real estate deals could come together with a pre-qualifying letter. A pre-qualifying letter? Didn't I just say get pre-approved? What's the difference? A pre-qualifying letter is informal. It can be gotten from a telephone interview with a lender. Basically you tell the lender how long you've worked, how much you make how much you earn and what are your monthly debts. Based on this information the lender will determine, with some qualifications, how much "you're good for". No information has been verified so there's no commitment from the lender. Seller's discount them too. So if your offer is side by side with another that has a pre-approval letter the seller may lean, all things being ...
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