Prepare and Generate a Pre-Approval Letter

Overview

Once you have a pre-approval letter template set up in your Floify account, you are ready to start preparing and generating pre-approval letters for your borrowers. This is a two step process that involves setting up the parameters for your letter first, and then generating your letter second.

This help article provides a tutorial on how to prepare and generate the pre-approval letter for a borrower.

If you need help setting up your pre-approval letter template first, you can find more information here: Pre-Approval Letter.

How to Use

Preparing the Pre-Approval Letter

This is where you will set up the parameters for your letter. Anyone generating a letter in your pipeline, as well as any realtors/partners that have been invited to the loan flow, will be required to stay within these parameters when they go to generate a letter.

From the loan pipeline, select the Edit Loan Flow icon:

Scroll down to the Prepare Pre-Approval Letter section:

Enter your Maximum Sales Price, Max Seller Paid Costs, and Down Payment limits:

Note: The down payment limits can be set either in dollar or percentage amounts here, but they will only generate in dollar amounts on the letter itself.

If you have the Loan Type or Personal Note tags set up on your letter, you can also enter this information here to populate directly. Make sure you select Save once you're done to confirm the changes:

Generating the Pre-Approval Letter

From your team pipeline, navigate into the loan flow using the red, yellow, or green icons towards the left hand side of the borrower's name:

Select the Pre-Approval Letter button near the right in blue:

The parameters initially set up will be located in the Loan Info for Review section near the bottom as a point of reference:

Enter your Actual Sales Price, Actual Down Payment, Actual Seller Paid Closing Costs, and Property Address as you'd like them to appear on your letter and select Make Pre-Approval Letter:

Note: The values cannot go outside of the parameters initially set up, otherwise you will get an error message.

The letter will be available in the Docs Accepted in a new Letters tab. You can view or download it as needed with the icons towards the left hand side: