would an email message form your mortage company, be considered as a preapproval for a home loan?

Answer 1

my approval letter was very simple..
on mortgage letterhead "co. name. address, phone number"
my name......etc.
rate, lending amount. etc..
and signed..
it was faxed..
had it been emailed..
I would have downloaded it..
if anyone doubted the authentic of the paper they could use my cell phone and phoned.
personally I would accept an emailed confirmation note

handed anyone that doubted it ..my cell phone..
but if you have seen a "preapproval letter" you would know if it was correct or not..
it is "fraud" to misrepresent yourself..and go into a legal transaction..

Answer 2

Pre-qualification or pre-approval means this...
..."Based on the information gathered to date, you are conditionally approved for a loan of $___. Congratulations."

Now, the "information gathered to date" may mean "You called the loan officer and said - I wanna buy a house."
"Conditionally approved" means that you can have the loan IF some other conditions are met.

As a Realtor, I like to see a letter state what has already been done, and what is still needed. Is the "information gathered to date".. including CREDIT, VERIFICATION OF INCOME, VERIFICATION OF EMPLOYMENT, VERIFICATION OF ASSETS, VERIFICATION OF RENTAL HISTORY, and what does the loan officer still need to get prior to closing?

Answer 3

ummm no... they will usually send a letter to you or your realtor stating "congratulations! mr. so and so has been conditionally approved/pre-approved" something to that effect.

Answer 4

Would that be good enough for you, if you were selling your house?