Pre-Approval Letter Format/QualityI was recently pre-approved through a broker for x amount, but my real estate agent feels that the pre-approval letter seems more like a pre-qualification lender, and fears that it could hurt the process of acquiring a home.The agent stated that a DU approval run through their own lender was much more detailed and was more specific about the breakdown of credit and such. As such, they felt that the pre-approval through this broker should be more thorough. Is this a valid/sufficient enough for pre-approval? If not, what should it be more like? (Does it matter if the letter only states pre-approval through the broker and not through a specific lender, such as the case of this broker having multiple lenders to choose from for the best rate any given day?) The letter is basically this:Dear ______,We are pleased to notify you that your application for a mortgage pre‐approval has been approved. This approval is based on a purchase price of $X and a loan amount $Y. This pre‐approval is issued 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 acommitment to lend until the following conditions are met:( ) A valid sales contract is ratified on a property;( ) A satisfactory appraisal is accomplished on such property;( ) You select a mortgage program, which causes your mortgage payment to fall within the preapproved amount;( ) A rate commitment is issued by our company under the above referenced mortgage program.We wish you luck in the home buying process and we thank you for choosing Z Company for your mortgage transaction.Sincerely,Broker with CPA TitleContact InformationNote: Disclaimers here about pre-approval only being valid if originated through Z-CompanyJuly 29 2009 - Riverside11YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.