How to Read a Buyer’s Pre-Approval Letter When You’re Selling FSBO

If you’re selling your Virginia home without a listing agent, the first real financial document you’ll see from a buyer is a pre-approval letter. It looks official, it’s usually on lender letterhead, and it’s easy to read as a guarantee. It isn’t one. A pre-approval letter is a lender’s statement that, based on what the buyer told them and what’s been checked so far, the buyer looks qualified for a loan up to a certain amount. It is not a closing guarantee, and it doesn’t mean every part of the buyer’s file has been verified.

That distinction matters most in the days between accepting an offer and going under contract, because that’s when you decide to stop showing the house to other buyers. If you want a second opinion on what a letter actually shows before you make that call, text it to 571-363-7686 — I’ll look at it the same day.

Here’s the problem in plain terms: most pre-approval letters are generated from a quick conversation and a credit pull, not a full file review. The buyer’s stated income might not match what a pay stub or tax return would show. Their debt picture might be missing a car loan or a co-signed obligation that shows up later. Their down payment funds might be sitting in an account that hasn’t been traced back to where the money actually came from. None of that shows up in the letter — it surfaces during underwriting, which typically happens after you’ve already gone under contract and taken the house off the market. That’s the gap this whole series is built around closing. Send me the letter at 571-363-7686 and I’ll walk through what it does and doesn’t confirm.

A few things worth checking yourself before you even pick up the phone: does the letter name a specific loan program, or is it generic? Is it dated recently, or is it several months old (credit reports and financial pictures change)? Does it list a loan amount that comfortably covers the offer price, or is it right at the edge? None of these questions require you to understand mortgage underwriting — they just require reading the letter as a starting point rather than a finish line.

This post is part of a series on selling a home without a listing agent in Virginia. Start with the hub guide for an overview of the full process.

Text me the letter.

I’m Simar Sarang, a mortgage broker based in Centreville. Send the pre-approval letter to 571-363-7686 and I’ll tell you what’s actually behind it — what got verified, what didn’t, and what I’d ask that lender before you take your house off the market.

Usually same day. No cost, no obligation, and it makes no difference to me which lender your buyer is using.

Text 571-363-7686

Simar Sarang — Mortgage Loan Originator, NMLS #2558182

E Z Lending, LLC · Company NMLS #215245 · Brokering since 2002

Licensed in Virginia and Maryland

Equal Housing Lender