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Pre Qualification Letter

Posted by realtorjara on January 23, 2016
| 0

For those who ask about how a Pre Qualification letter looks like, here I am showing a sample for an international buyer who wants to buy a condominium in Miami. Every client has its own qualification, this is just a sample an means that rates and conditions could change for your particular  case.

If you have any question contact Rafael Jarauta, Professional Realtor.

Dear Mr. XXXXX:

Based on our updated analysis of the credit, current employment and annual income you have provided to us, you have been pre-qualified for the following:

• Loan Program: 30-yr. TB Non-Resident 5/1 ARM

• Purchase Price: Max $355,000

• Loan amount: Max $230,750

• Down payment: 35% of cash reserves

• Term: 360 months

• Qualifying Rate: 4.25% 1

Based on the current rate of 4.25% and your loan amount of $230,750, your estimated monthly payment would be $2,364.00. This includes principal and interest in the amount of $1,136.00 and an estimated monthly tax ($5,011 annual), property insurance ($1,200 annual) and monthly association ($710.00) of $1,228.75.

Thank you for choosing our financial company for your financing needs. I am available to answer any questions you may have. Good luck in your pursuit of home ownership.


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