Good morning Parkcrest, Your loan confirmation letter and its contents are going to be regulated in most cases. Most terms like pre approved, pre qualified, etc are now defined by statute in most localities. Make sure the lender you choose is licensed in your area, and their letter should be, at least legally speaking, correct.
Our letters always explain the parameters of the loan, the type of loan, and the amount (if any) of closing costs the seller is expected to pay, as well as cover items that will be needed to complete the loan, such as an acceptable appraisal and clear title work. I hope this helps you! Jim... more