Mortgage Pre-qualification Letter Sample

By | January 9, 2015

A pre-qualification letter is sent by a mortgage company to a prospective borrower, stating that he or she is eligible for a certain type of loan; a pre-approval letter is sent only when all investigations are completed and a prospective borrower is informed that he can apply for a loan.

Mortgage prequalification letters are usually written once a loan officer has some information of a prospective borrower’s credit history, employment status and income and assets. A mortgage prequalification letter is sent without performing any investigations or background checks and is not a guarantee that a mortgage loan will be approved.

Lenders usually have preset formats which they make changes to in accordance to the information that prospective borrowers provide them with. These letters are directly addressed to the borrower and indicate only that he is eligible for a certain mortgage plan or plans based on the information that he has provided either over the telephone or email. A prequalification letter will look something like this:

Mortgage Pre-qualification Letter Sample

January 9, 2015

Ms. Amelia Sobers
9273 Chipmunk Ridge Drive
Mentor, OH 26353


Dear Ms. Amelia:

Thank you for calling in yesterday and inquiring about the mortgage loan plans that On Q Financial Inc. is offering to its clients. I received an email from you detailing the information that I asked you to send in. Based on this information, I have been able to determine that you are eligible for the following mortgage plan that On Q Financial Inc. can offer. Please refer below for details:

Plan A
Mortgage Loan Program: Fixed Rate
Loan Amount: $50,000
Down Payment: $10,000 (@20%)
Term: 36 months
Qualifying Rate: 16%

Based on the credit, income, employment and asset information that you provided in your email, I believe that this plan will suit you the best as it has the lowest qualifying rate, with easy monthly payments over 3 years. The income and banks statements that you sent along with your email strongly suggest that you are able to put a down payment without difficulty and that subsequent monthly payments will not be affected.

Please note that this prequalification letter is intended for your information only and does not guarantee loan approval or commitment to rate, fees or terms. These will be decided once a loan application has been received and approved post investigation. I have enclosed a loan application form for you to fill out and return to me as early as possible so that your loan application can be expedited.

If you have any questions, I please don’t hesitate to contact me.

Thank you,


Warm regards,

[Sign Here]

Emma Watson
Loan Officer, On Q Financial Inc.
887 Trotwood Drive, Mentor, OH 76665
333.111.0000 Ext: 687
Emma @ onq . org