Q:

Where are some good places to find sample preapproval letters?

A:

Quick Answer

Websites offering sample preapproval letters include HSH.com, MortgagesAnalyzed.com and CHLMortgage.com. Some of the samples are printable, and others are presented as online examples. Each website provides instructions and advice regarding the use of the letters.

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Full Answer

A preapproval letter outlines a consumer's ability to obtain a mortgage loan. Buyers who have obtained preapproval letters are often given preference by sellers, according to Mortgages Analyzed. While a necessary document for the loan process, a preapproval letter is not the same as a loan approval, and it does not commit the borrower to seek a loan from the lender who has provided the letter.

The information in a preapproval letter typically includes the loan program, loan type, loan amount and the qualified interest rate, as detailed by HSH.com.

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