Pre-approval requires a more extensive look into your personal finances than pre-qualification, typically including a hard credit check and requesting proof of income.

The letter should include the following information ... Just ensure the gift is well-documented for mortgage approval. Sometimes, though, receiving a gift can come with a feeling of obligation ...

Full mortgage approval also partly depends on the home ... you'll likely need to have them write a letter explaining that the funds are a gift. Conventional mortgage borrowers can put as little ...

An quick estimate of how large a loan you may be approved for. An in-depth review of your finances resulting in a pre-approval letter to show home sellers. Clay Jarvis is NerdWallet Canada's ...

Learn what you need to speed up the approval process Mortgage lenders offer pre-approval letters to buyers they believe can repay their loans. However, unlike mortgage pre-qualification ...