When placing an offer on a home, you may be required to provide the seller with a prequalification or preapproval letter. For a prequalification letter, your Loan Officer will request financial information, including income, assets and debts in order to determine how much of a loan you can afford. For a preapproval letter, your Loan Officer will request documentation to support the financial information provided and will submit that documentation to the Underwriting Department for a credit eligibility review. CMG Financial will then issue you a letter stating the loan amount for which you are prequalified or preapproved. Please note that a prequalification or preapproval letter is not an offer of credit or a loan approval. Final loan approval will be subject to a review of: satisfactory appraisal of the subject property, fully executed purchase contract, preliminary title report, confirmation of no material change to your employment status, income, assets and credit, and any/all other conditions or terms as required as part of the final loan approval.