The following two pages are (Pages 8 & 9) of Chris Hatley’s Quick Guide “Buying A House Using A VA Loan” which covers the basics of everything you need to know from application to closing. Chris Hatley is a VA home loan specialist who started originating VA loans back in the year 2000 and is also a veteran himself. You can download the whole Quick Guide by clicking the following link: VA Home Loan
The Importance Of Establishing Your Buying Power
With A Pre-Approval Letter I really like for people to understand that shopping for a home before talking to the bank is like going to a gun fight without any bullets. Everybody should take the time and find out exactly what amount of home they can qualify for and what that means as far as a monthly payment after taxes and insurance is factored in. Another reason to do this is so when you and your agent decide on a property you wish to make an offer on you have some bargaining power that will give you an advantage over someone else who may be interested in the property. And You Want That Letter Customized For That Particular Offer!
An approval letter is a very valuable tool to have at your disposal when a seller is reviewing your offer! They will know they have someone who qualifies for financing and they will try extremely hard to come to an agreement so the transaction happens. I would like for you to take a moment and look at the example of an approval letter that I will issue for you. It is more detailed than you will get from an ordinary bank because it not only let’s the agents and seller know you are qualified for financing but it has safe guards written in to help the loan process run smoother and save you time and money.
I Personally Customize Every Approval Letter For Your Specific Offer!
Please take a moment to review the following Approval Letter for one of my clients: 8
CHRIS HATLEY Mortgage Loan Officer OFFICE: 931-651-1378 CELL: 931-206-5662 EMAIL: chatley@peoplesbankusa.com
Congratulations Mr. & Mrs. Jordan: I am pleased to notify you that your application for a VA home loan Pre� Approval has been reviewed an accepted. This approval is provided through the Freddie Mac Loan Prospector system and is based on a purchase price of $340,000. Your loan number is 2140715105, this assessment is based on your current credit history, income, assets and debt assuming that there are no changes in your financial situation. This pre-approval should not be considered a commitment to lend until the following as well as underwriting conditions are met. 1.) Acceptable Purchase Contract Signed By Buyer & Seller 2.) Satisfactory Appraisal Showing Proper Sufficient Value 3.) Title Search/Examination 4.) Satisfactory Pest Inspection Provided By Seller I wish you luck in the home buying process & thank you for choosing to use me in your quest for home ownership.
Chris Hatley
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