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Why A Verified Approval Letter Makes A Stronger Offer

Emma Tomsich2-Minute Read
February 19, 2021

You did it! You’ve listed your home on the real estate market and offers are starting to come in. Maybe it’s a competitive market and bids are flying in left and right. Or maybe you’ve only received a handful of offers but are ready to start assessing your options.

You’re probably ready to sell your home to the top bidder and move along with the closing process. But don’t move on too fast! You’ve seen offers come in, but do any of them have a Verified Approval Letter? Whether this term is familiar or not, let’s talk about what a VAL is and why it matters to sellers.

Prequalification Vs. Preapproval

Before getting into the specifics of a Verified Approval Letter, let’s compare the two different types of mortgage approvals: prequalification and preapproval.

Mortgage approvals are very important steps to take during the home buying and selling processes, as they help the buyer and seller estimate how much the buyer can afford.

Prequalification generally means that a lender collects basic financial information from the buyer to determine how much house they can afford. This approval relies primarily on self-reported information rather than financial documents and other official information. Therefore, this number is typically an estimate, which is considered less reliable and credible than preapproval.

Preapproval, on the other hand, is more trusted and reliable. It is an official step in the home buying and selling process that requires lenders to verify the financial information and credit history of potential home buyers. This means that a preapproval is a stronger indicator of whether or not a buyer can afford the house you have listed.

A prequalified approval letter shows sellers that buyers are serious about purchasing property and committed to their future investment. But after getting prequalified, buyers have the option to level up their offer and stand out to sellers with a Verified Approval Letter.

Get the right home loan for you.

What Is A Verified Approval Letter?

Verified Approval is a part of the mortgage approval process that strengthens the buyer’s offer. During this step, lenders verify the buyer’s credit history, income, and assets with documentation. These documents, which include W-2s, pay stubs and account statements, can help lenders determine what buyers can afford.

Once the Verified Approval process is completed, the buyer will receive a Verified Approval Letter to give the seller. This letter speaks for itself, meaning the buyer has their finances in order, can obtain a large enough mortgage and is ready to buy your house.

Why A Verified Approval Letter Makes A Stronger Offer

Selling your home is a big deal. So when you accept a buyer’s offer, you trust that they’ll follow through with the home buying process and complete all necessary tasks to transfer ownership and make your home their own.

A Verified Approval isn’t just any kind of approval. It gives buyers a competitive edge, and it shows sellers which buyers are serious.

A Verified Approval Letter makes a stronger offer than other approval letters because it’s a more accurate estimate of what the buyer can afford.

So next time you receive offers on your property, take this lesson to heart and look for buyers with a VAL.


Now that you’ve learned more about Verified Approval Letters, you know which buyers mean business. As you continue to get offers on your house, look out for VALs and talk to a seller’s agent for more guidance. A seller’s agent will be able to answer any questions you might have, as well as provide you expert advice on your specific situation as a seller.

If you’re a interested in home buying, make your offer count by getting backed by a VAL with Rocket Mortgage®.

Get the right home loan for you.

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    Emma Tomsich

    Emma Tomsich is a student at Marquette University studying Corporate Communications, Marketing and Public Relations. She has a passion for writing, and hopes to one day own her own business. In her free time, Emma likes to travel, shop, run and drink coffee.