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Why A Verified Approval Letter Can Mean A Stronger Offer On Your Home

Miranda Crace2-Minute Read
UPDATED: June 08, 2023

You’ve listed your home on the real estate market, and offers are starting to come in. You’re probably ready to sell your home to the top bidder and proceed with the closing process.

But don’t move on too quickly! Even if you’re not selling in a competitive real estate market, you may want to wait for an offer that’s backed by a Verified Approval Letter (VAL).1

Not familiar with Verified Approval Letters? Let’s talk about what a VAL is and why it matters to sellers.

Prequalification Vs. Preapproval

Mortgage approval is a very important step to take during the home buying and selling processes, as it helps the buyer and seller estimate how much the buyer can afford. Before we get into the specifics of a Verified Approval Letter, let’s compare the two different types of mortgage approvals: prequalification and preapproval.

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. Because this number is typically an estimate, it’s considered less reliable and credible than preapproval.

Preapproval, on the other hand, is more trusted and reliable. It’s an official step in the home buying and selling process that requires mortgage lenders to verify potential home buyers’ important documents including financial information and credit history. This means that a preapproval is a stronger indicator of whether a buyer can afford the house you’ve listed.

A prequalified loan 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 (VAL)?

A Verified Approval Letter is a preapproval letter that includes verification of a borrower’s income assets and credit score by one of the underwriters at Rocket Mortgage®. In addition to a credit report, mortgage lenders will use the following documents to verify a potential buyer’s income and assets:

  • W-2s
  • Pay stubs
  • Bank account statements
  • Income tax returns

Once the Verified Approval process is completed, the buyer will receive a Verified Approval Letter to give you, the seller, as proof that the buyer has their finances in order, can obtain a large enough mortgage loan and is ready to buy your house.

Why A Verified Approval Letter Makes A Stronger Offer

A Verified Approval Letter makes a stronger offer than other letters of approval because it’s a more accurate estimate of what the buyer can afford. Sellers are more likely to accept an offer that’s backed by a VAL because it shows that the buyer is serious and ready to complete all necessary tasks of the home buying process.

The Bottom Line

Selling your home can be both exciting and stressful, so it’s understandable that you’d want to accept the highest – or even the first – bid that comes your way.

By waiting for an offer that’s backed by a Verified Approval Letter, though, you can relieve some of that stress and proceed to closing with the excitement and confidence that the potential buyer is serious and financially capable of affording the mortgage behind their offer.

Know what else can make you a more confident seller? Having the guidance of a real estate agent in your corner. Rocket Homes℠ vets exceptional seller’s agents in your local market to ensure you find the perfect REALTOR® to help you sell your home on your terms. Get matched with a Verified Partner Agent today.


Participation in the Verified Approval program is based on an underwriter’s comprehensive analysis of your credit, income, employment status, assets and debt. If new information materially changes the underwriting decision resulting in a denial of your credit request, if the loan fails to close for a reason outside of Rocket Mortgage’s control, including, but not limited to satisfactory insurance, appraisal and title report/search, or if you no longer want to proceed with the loan, your participation in the program will be discontinued. If your eligibility in the program does not change and your mortgage loan does not close due to a Rocket Mortgage error, you will receive the $1,000. Client must submit the claim to or contact Client Relations at 1-800-863-4332 to complete and return a claim form to Client Relations in order to claim the $1,000. Additional information will be required for tax purposes. This offer does not apply to new purchase loans submitted to Rocket Mortgage through a mortgage broker. Rocket Mortgage reserves the right to cancel this offer at any time. Acceptance of this offer constitutes the acceptance of these terms and conditions, which are subject to change at the sole discretion of Rocket Mortgage. Additional conditions or exclusions may apply.

Get the right home loan for you.

Miranda Crace

Miranda Crace is a Senior Section Editor for the Rocket Companies, bringing a wealth of knowledge about mortgages, personal finance, real estate, and personal loans for over 10 years.