Verified Pre-Approval Letter Terms and Conditions
- Better Mortgage Corporation’s (“Better Mortgage”) Verified Pre-Approval Letter (“VPAL”) does not constitute a mortgage loan application, does not guarantee mortgage loan approval, and does not constitute a commitment to make a mortgage loan for the terms stated on the VPAL. Verified pre-approval is based on a review of a customer’s financial condition including financial documentation and information used to verify income and assets.
- Final mortgage loan approval is subject to guidelines and requirements in place at time of application, which are subject to change without notice, and will require (but shall not be limited to) receipt by Better Mortgage of the following: (1) a complete mortgage loan application; (2) supporting documentation to verify income, assets, liabilities and other information disclosed on a customer’s mortgage loan application; (3) a fully executed purchase agreement; (4) the subject property meeting valuation, condition and marketability requirements; and (5) no material changes in a customer’s creditworthiness and/or financial condition.
- Better Mortgage is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age (provided you have the capacity to enter into a binding contract), because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. The federal agency that administers our compliance with these federal laws is the Federal Trade Commission, Equal Credit Opportunity, Washington, DC, 20580.
- BETTER MORTGAGE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, PROMOTIONS AND BENEFITS AT ANY TIME WITHOUT NOTICE. Rates and Terms are subject to change at any time without notice and are subject to state restrictions. Better Mortgage Corporation, 3 World Trade Center, 175 Greenwich Street, 57th Floor, New York, NY 10007. Tel: 888-501-3186, Fax: 408-946-0112, is licensed by the Department of Business Oversight under the California Finance Lender Law License No.6052748, NMLS # 330511. (www.nmlsconsumeraccess.org)