Rocket Mortgage Verified Approval Letter | Is it worth it?

The long-awaited dream of buying your home can be defeated if you see yourself competing with other bidders of the same property. Here’s where the rocket mortgage verified approval letter, can give you an edge over and above other competitors if you have obtained it.


This article will explain in detail what a verified approval letter (VAL) means by considering the various reviews of users online that we have gathered through our research.

A verified approval letter is not connected with other kinds of approval letters. So how do I get my rocket mortgage approval letter verified?

Let us talk more about it so you increase your chances of buying the house.

Rocket Mortgage Verified Approval Letter | Is it worth it?

A verified approval letter is a document that shows your seller that you have the required finances to buy the property you are currently negotiating.

Most real estate agents will usually require you to submit a verified approval letter if you are not using your funds to finance it. This shows them that you have at least some atom of guarantee of funds.

The seller at this point believes that the negotiations will go through subject to you closing the mortgage deal with your lender.

We have already stated before that getting your mortgage letter approved by your lender does not mean that the mortgage cannot be denied.

Learn about the factors that can deny your approved letters here, including having an increased debt rate.

Rocket mortgage verifies all your financial records before granting you any approval.

Note: You can get multiple mortgage approvals from different lenders. This will help you compare their rates. So even if you already have the approved mortgage letter from rocket mortgage, you can still check other lenders.

The question is: Does getting that multiple approval letter affects my credit score? We will answer the question in this article.

Pre-Qualified Letter Vs Verified Approval Letter | Whats’ the Difference

Some real estate agents and even some mortgagee usually believe that  a pre approval letter is the same thing as verified approval letter. There is a huge difference between Pre-qulaificatio and pre-approval.

When you get a prequalified letter, the lender did not check your credit history , employment status, debt-to-income ratio and other details.

Pre-Qualification letter contains mere assumptions or estimates of your income as assets based on the information you give to your lender.

This is not the same case with a verified approval letter. The term verified means that some steps have been taken further to double check all the information you provided when you were pre-qualifed for the mortgage.

The verification reuqires that you submit your financial documents, identity documents, and every other documents that will be reuquired. Do not worry we will list the documens for you in this article. It does not require you to get every document related to your entire being on earth.

So it is very essential for you to obtain a verified approved letter rather than relying on your prequalified letter as the rocket mortgage verified approval letter show your financial reliabity and stability.

Documents needed to Get A Mortgage Verified Approval Letter

When you apply for the rocket mortgage, there are some documents you need to share to them to get your verified approval letter. The documents include

  1. Bank Statements
  2. Income History
  3. Identity Documents
  4. Income tax returns

Its is important to note that they will also check your credit score to determine the interest rate.

How to Log into Rocket mortgage Account Online | Apply for Approval Letter

If you want to apply for the rocket mortgage approval letter, you have to login Into your account. When you login, you should speak with an expert online through their customer service online chat. Answer the questions accurately and do not provide false answers.

Simply go to the homepage of rocket mortgage and sign in to your account. Enter your username which is the email address you used when creating the account. Enter your password and login.

Benefits of having A Mortgage Verified Approval Letter

They are certain benefits of getting a rocket mortgage approval letter. Let us consider some of them below;

The real estate agent will understand your budget for the home and know the kind of homes to recommend for you. This will help save the time spent in looking for a house.

It gives you a strong bargain power because the seller already have the confidence that you have the finances to pay for the home.

After your offer is accepted, you’re less likely to run into surprises that could slow down closing the loan.

Keep in mind an approval is just the start of getting a mortgage. Once you find a house and make an offer, the house will need to pass inspections and be appraised by a third-party. Your approval amount could also change if your financial situation changes.

How long does it take to get the Verified Approval Letter from Rocket Mortgage

Rocket mortgage usually give you the approved mortgage letter shortly after you have submitted the necessary documents. More so, it is important you respond to your emails and phone calls for certain verifications in order to speed up the process. So if you are running out of time, hasten up in submission of your documents and it would be ready in no distance time.

What’s the Expiration time for Rocket mortgage Verified Approval Letter

When you get the rocket mortgage verified approved letter, it is valid for only 90 days. So if you do not want to start the application process again, you should close the house deal before the end of the 90 days. However, do not be in a haste to buy because you have to check some factors. You can always get another approved letter from rocket mortgage.

Can I get multiple Mortgage Verified Approval Letters?

The fact that you have an approved mortgage letter from a particular lender does not stop you from getting from another lender multiple times. It helps you to compare the rates of the lenders so you will make a better choice. Meanwhile, they are certain factors that generally affects your home equity interest rate that you should mind.


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