FHA Pre Approval Letter


FHA Pre Approval Letter -example of a Pre Approval Letter:


MORTGAGE CREDIT PRE APPROVAL CERTIFICATE

January 1, 2016

Mr. & Mrs. Home Buyer

Congratulations! Your credit has been Pre-approved for a Residential Mortgage Loan subject to the following terms and conditions:

Purchase Price: $100,000.00 Loan Amount: $96,500.00 Product Type: FHA Fixed Rate

Your credit approval has been based on a total maximum payment amount with the loan characteristics noted above. It is not a loan approval. It represents our best estimate of the loan for which you could qualify from one of our lenders, based on the credit information you have provided to us.

Approval of your loan is subject only to the following:

1. Receipt of a satisfactory appraisal and property requirements indicating acceptable value and condition.

2. Compliance with all standard loan conditions contained in the loan commitment letter which will issue prior to loan closing.

This approval is based upon information on your financial condition provided by you. We reserve the right to cancel this approval if any statement made to us in your application or confirmed from another source is found to be false in any way. Any change in your financial condition prior to the loan settlement must be reported to us. We will update your information at the time your property is selected.

Any adverse change could affect your approval. You must notify your lending officer immediately upon selecting a property to enable us to order an appraisal. Your lending officer will be responsible for forwarding a copy of your accepted sales agreement to us.

This approval is not transferable and is based on information contained in your loan application, which you should review carefully prior to signing.

Please call your lending officer with any questions about your loan information.

Ralph A. Luis                                                                                                 NMLS ID – 329218                                                                                     Florida LO 14848
Loan Officer                                                                                             888-958-4228                                                                           

Florida License Number - MBR1007


The reason for getting pre-approved for an FHA loan is so that you do not go through the home finding process just to find out that you do not qualify for an FHA loan. Request your FHA pre approval letter.

Mortgage World Home Loans is an online mortgage company specializing in FHA loans for first time home buyers. To buy a house  with 3.5% down payment and a minimum credit score of 580 using an FHA loan.

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Call us 888.958.4228


We recognize the importance to you of keeping your information secure and confidential. We will not sell or share your personal information.


We look forward to working with you.

Minimum Credit Score Needed to Buy a Home

On January 20, 2010 FHA announced a policy change to address risk and strengthen finances. FHA changed the minimum credit scores for new borrowers:

  • New borrowers will now be required to have a minimum credit score of 580 to qualify for FHA's 3.5% down payment program
  • New borrowers with less than a 580 credit score will be required to put down at least 10%
  • This allows the FHA to better balance its risk and continue to provide access for those borrowers who have historically performed well
  • This changes went into effect in 2010

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