Pre-Approval Letters

While pre-approval from a lender once was looked upon favorably in the property industry, many of today’s builders and realty agents no longer take these letters at face value. A recent survey of more than 1,700 real estate agents found that 39 percent of pre-approval letters from Internet lenders, 27 percent from mortgage brokers, 19 percent from national lenders, 14 percent from local banks, 10 percent from credit unions, and 9 percent from mortgage partners are faulty because the income, asset, and debt information provided by prospective borrowers was not verified. It also found that 80 percent of respondents would support a standardized pre-approval letter from the National Association of Realtors or other such trade group. The poll was conducted by Campbell Communications on behalf of Inside Mortgage Finance Publications.

At Envisions Group, we mean what we say.  Our pre-approval letters are qualified as to exactly what is behind them.  We tell you the stage of pre-approval your client is at.  If we haven’t been able to look at their income verification, they are pre-qualified.  If we say they are pre-approved, that statement is qualified as to automated approval by lender, lender-accepted-verbal, lender accepted-written.  That goes for all levels of credit, A, A-, and B.

We don’t want to waste our time any more than you do.  Envisions Group has a track record of 100% submission to close.  100% of our purchase business has closed on time, or early.  100% of our closings have had no surprises.  We are on top of our game.  Our team, wants to join your team.  We don’t want you to waste your time with unqualified clients, do you?