How to Send a Pre-Approval Letter - Traditional Vs. Automation

Whether you’re buying or selling a home, getting a pre-approval letter from a lender is important. It’s a way to establish your home purchase price range and minimum down payment and gives you time to fix any credit issues that may arise during the process.


It’s also an important tool for showing sellers that you are a serious buyer and motivated to buy their home. Sellers are wary of buyers who don’t have a lender’s backing, so having a pre-approval letter can make your offer stand out from the crowd and increase your chances of closing on the home you want.

The Best Time to Get a Pre-Approval Letter: Today

Having your mortgage pre-approval in hand at the start of your home buying journey will help you build confidence as you begin your search for a new home and show real estate agents that you’re serious about purchasing a home. You’ll be able to use this information in negotiations with sellers and help speed up the closing process.

What to Expect from Your Pre-Approval Letter: Every lender is different, so it’s important to ask questions and find out what documentation they need for their review of your application. You should also expect that your pre-approval letter will expire after 60 to 90 days, so you’ll need to fill out a new application and provide updated documentation to receive another one.

Both RPA and traditional automation have their advantages and disadvantages, so it’s important to know which one will be best for your business. For example, if your current technology already performs the tasks you need, RPA is probably the best fit for you and your company. However, if you have more complex processes that require a significant IT team to maintain and update, then traditional automation might be the better choice for your business.


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