Dear Home Buyer:

Congratulations! You have been pre-qualified for a new home mortgage. Below are the specifications of your pre-qualification:

§ Loan Type: Conventional

§ Interest Rate: 6.5%

§ Term: 360 months

§ Sales Price: $190,000 (Maximum)

§ Down Payment: 10%

§ Lock-in Period: 45 days

§ Closing Date: 30 days

Your pre-qualification status is based on the information that you have provided in your completed application and is subject to verification of that information. So far we have verified and approved your credit and your ___________________ . We are currently verifying your [reported income, debt, and savings]. Your loan is also contingent on obtaining an appraisal on the house you select for at least the purchase price.

Very truly yours,