To create an account, please visit the buyers registration page.
Fill out the form with the following information to create your account and begin the Affordability Analysis:
Once finished, click the ‘Save and Continue’ button to proceed.
An email from PreApprovalLetter.com will be sent to the email address entered in the form with a confirmation link inside.
Locate the email, open it, and click the confirmation link inside to confirm that you are the true applicant.
When you click the link, you will automatically be re-directed back to preapprovalletter.com to create a password. Type a new password and Re-type the new password in the appropriate fields. Once youve decided on a password and have filled out the fields, click the "Save Password and Continue" button to finish.
If you have followed the instructions above correctly, youve most certainly created a new account.
To login, please click the button labeled Login at the top right-hand side of the website.
Once clicked, you will arrive at the Buyers Login screen.
Enter your login credentials from registration and you will have logged into your account.
If you have an issue logging in, please confirm that you are logging into the Buyer login and not the Realtor login.
If you cannot remember your login password, please click here to reset your password and continue.
Our system requires the same documents any other bank or lender would require to analyze your Buying Power.
Please gather the following documents to complete the Affordability process:
We will never ask you to send us your personal documents. These documents will always stay in your posession and all your personal information is kept safe and secure. Never send your personal financial documents to a stranger.
Our pricing is pretty straightforward - $19.97 per applicant.
Any additional analysis performed within 75 days of your original Report are FREE
At PreApprovalLetter.com, we are revolutionizing the home buying process with our secure, patent-pending system that streamlines and automates the Affordability Analysis. Based on today’s strict underwriting rules and guidelines, our system interviews homebuyers the same way an expert mortgage loan originator at a bank would. We then provide the buyer with a personalized home loan budget and tailored analysis; so buyers know exactly how much home they qualify for.
Homebuyers can then view their borrowing limits instantly on their secure and personalized dashboard; they are also presented with a powerful home search tool, which displays a tailored gallery of properties that fit their home budget and qualifying scenarios.
This Affordability Analysis is kept live throughout the home-hunting process where buyers and real estate agents have the ability to cross reference MLS listed properties vs. a homebuyer’s qualifying data and know, instantly, if that homebuyer qualifies for a particular property.
Knowing precise Affordability Analysis limits when searching for that perfect home will make the difference in saving you time and money.
Purchasing a home can be the largest investment many people make in their lives, we seek to empower the homebuyer with personal mortgage knowledge. -Know Your Buying Power- ™
The pre-approval process is the first step in homeownership; it is a complicated process. Commercial banks and lenders can take days and sometimes weeks to issue a homebuyer this much sought after pre-approval letter. A pre-approval letter is required in order to view and present offers for the purchase of real estate properties. Realtors are successful in getting offers accepted if they act quickly and place offers in a timely fashion.
Once the homebuyer is pre-approved, their pre-approval letters need to be updated as new properties come-up during the home search. This creates additional problems, as updating this pre-approval data can be equally as cumbersome. Homebuyers may find themselves chasing down their bank or lender for confirmation that they qualify for multiple homes during their search, hence making the offer process a potential nightmare. Many times these pre-approvals are inaccurate because they are performed by bank representatives or loan originators whose levels of expertise can vary greatly.
PreApprovalLetter.com revolutionizes the pre-home buying process. Our secure, patent-pending system solves this problem by streamlining and automating the pre-approval process. Homebuyers are interviewed by our system the same way an expert mortgage loan originator at a bank would. We analyze buyers using complex mortgage industry guidelines, formulas and rules.
PreApprovalLetter.com analyzes a homebuyer during the pre-home buying phase and shows them their borrowing limits instantly for all popular mortgage products on a personalized, secure dashboard.
This data is kept live throughout the home-hunting process where real estate agents have the ability to cross reference any MLS listed property with the homebuyer’s qualifying data and know, instantly, what the homebuyer qualifies for. The homebuyer has access to a tailored property search gallery that delivers only results. Knowing precise limits when finding that perfect home will make the difference saving you time and money. Find a house you love and know if you qualify, instantly.
Given current market conditions, the home buying process could last months and in some cases, over a year. The PreApprovalLetter.com system will change a homebuyer’s buying experience by way of automation. Giving buyers & realtors confidence.
Our system empowers homebuyers by teaching them which products best suit their needs, long before the lender selection stage. Once the homebuyer is ready to present an offer on a home they love, they can simply have a realtor generate a pre-qualification letter and choose any lender they’d like to work with.
There are a number of products being offered to first-time homebuyers. One of the more popular is an FHA loan. Although these loans were designed for first-time homebuyers, they can be used even if you currently own a home and have a mortgage securing it. Typically you can only have one FHA loan open at a time, however there are a few exceptions to this rule. Contact us for more information regarding guidelines. We would be happy to answer your questions free of obligation.
There are a number of products being offered to first time homebuyers. One of the more popular is an FHA loan. Although these loans were designed for first time homebuyers, they can be used even if you currently own a home and have a mortgage securing it. Typically you can only have one FHA loan open at a time, however there are a few exceptions to this rule. Contact us for more information regarding guidelines. We would be happy to answer your questions free of obligation.
There are many home loan grants being offered to borrowers by many state and county subsidy programs across the nation. These home loan grants are area specific, so do your research and access your county’s web page for more information on these subsidy programs. Some of these home loan grants are issued in the form of a second purchase money mortgage at the time of closing. They are typically mortgage interest rate free, so long as the borrower agrees to certain rules and regulations. One example of such a rule is the home being financed cannot be transferred or sold within a ten year period. Visit our helpful links for more information on subsidy home loan grants and down payment assistance programs.
Financing for condominiums can prove challenging these days. Many condominium buildings across the nation have been affected by delinquent association dues, have special assessments and are involved in litigation on a high percentage of the condo units. FHA recently ceased the approval of condominiums and most are now expired. Conventional loans are available for financing but offer strict guidelines with regards to down payment, scores, and building warrantability. Contact us for more free information regarding condominium financing.
Yes. A good example of this is FHA’s non-occupying borrower rule. A relative who lives out of state can helps a borrower qualify for a home loan mortgage. A non-occupying co-borrower does not have to occupy the subject property.
The amount of funds required to buy a home will vary greatly depending on which program you choose to purchase your home. Mortgage loan products such as FHA mortgage loans or HomePath mortgage loan products offered by Fanniemae, are designed to help buyers acquire their homes with very little money down. Such products offer 3 to 3.5% down payment and also allow sellers to contribute towards buyers closing costs and/or reserves.
Keep in mind that low down-payment products will affect your payments significantly. If you opt for a loan with less than 20% down you will be paying mortgage insurance along with your monthly mortgage payment. Also, FHA home loans allow for all funds to be a gift from a family member at or prior to closing. Contact us for more free information regarding this scenario.
When applying for a mortgage loan, schooling before work history is not a problem. Your schooling time will be used as part of your work history for the purposes of mortgage underwriting. So long as your time in school is relevant to your present employment, it can be counted. You will only need one complete month worth of your pay in order to apply. Keep in mind you will need to show transcripts to underwriting in order to count the time in school was valid.
If you now find yourself deep in student loan debts acquired during your schooling, an FHA home loan might be the best answer for you. Unlike conventional loans, FHA home loans allow deferred student loans not to be considered in ratio calculations. So long as the date of the first payment on the deferred student loan is not due within one year of your first mortgage payment, these obligations can be ignored. Many borrowers who apply for a conventional mortgage home loan are taken out of the home buying race without ever being given the FHA home loan option of ignoring deferred student loans.
PreApprovalLetter.com uses industry-wide guidelines and rules regarding credit and income deciphering; just like a mortgage loan underwriter at a bank would. This assures accurate results and presented products are sure to fit your budget.
Your bank or lender will collect monthly installments to complete a full year's worth of insurance payments. Once collected at the anniversary of your mortgage loan closing, they will send a full payment to the insurance company on your behalf. For this reason, consider making the homeowners insurance search just as important as your home search. Find the lowest possible policy as you will see the savings reflected every month on your mortgage payment.
Buyers must have 25% Equity for an FHA Loan and 30% equity for a conventional loan in their departing primary homes (the home you will be leaving behind), in order to use potential future rental income which may be needed in order to clear the current mortgage payment. A mortgaged departing primary residence can dramatically affect buyer qualification. If your current primary residence is affecting your ability to buy a new home, consider selling the home. This may be the key in acquiring your next home.
PreApprovalletter.com was designed by industry experts, using the most technologically advanced security features. Our practices are monitored daily by web security firms like McAfee and Geotrust daily. We never ask you to send out or provide us with any of your financial documentation - your documentation never leaves your hands. We simply ask you to gather your income documents for the purpose of answering some key questions, which will help determine your Buying Power.
Our patent-pending system is an industry first and will change the industry forever. We make it easy for you to share your pre-qualification data with your realtor. Simply invite them to access your pre-qualification data, and instantly they can cross-reference your buying power with over 1 million listings on a national level, making your home hunting a breeze. We dont display any sensitive personal finances to your realtor, only qualification-data required for them to find you the perfect home.
A credit inquiry from PreApprovalLetter.com will have the same affect on your credit as an inquiry from a mortgage bank or lender. Once you select a lender to close your loan, their credit inquiry should not affect your credit negatively as the credit reporting systems recognize multiple mortgage credit inquiries as a single credit inquiry. Additionally, along with each pre-qualification analysis from PreApprovalLetter.com, you will receive a letter of explanation regarding the inquiry on your credit. This explanation letter will confirm that our inquiry was for the purpose of analysis and that PreApprovalLetter.com has extended new credit to you. Your lender will require credit inquiry letters at the time of application for any inquiries performed on your credit within the last 90 days.
PreApprovalLetter.com uses guidelines set forth by the following entities:
Mortgage calculator is one of the highest searched mortgage terms on the web. It’s evident that potential homebuyers have a need to gather information in order to understand their borrowing limits. PreApprovalLetter.com is the ultimate mortgage calculator. We ask you key questions and display your mortgage loan options with precise payment calculations. We use live national average mortgage rates and live property tax data to calculate your future potential payments.
PreApprovalLetter.com has designed a custom tailored homebuying tool just for you. You choose who sees your qualifying data. You can invite realtors who may want to show you homes if you like and at any point during the home-hunting process.
PreApprovalLetter.com is not a bank or lender. We are an analysis service designed using all of the most up-to-date mortgage underwriting guidelines and rules. Now you can tell your bank or lender what loan products you qualify for rather than waiting on them to get back to you with an answer. If you dont have a bank or lender, we can recommend some that can offer competitive rates and terms. Contact Us for more information.
Once you are analyzed by our system, you can begin searching for homes with the property search tool. This tool locates homes listed in the MLS on a national level, providing details for you on all of your qualifying details specific to the home you are looking at.
Your buying power is your maximum allowed mortgage borrowing limits based on live rates and tax data. This translates to your maximum home purchase price being pinpointed precisely and accurately for each home you look at. We keep this data live - so if rates change so does your buying power. You can track your buying power daily as rates fluctuate.
Our system uses national average rates accessed from multiple sources to give you the most accurate analysis on the market. Our rates adjust on a daily basis.