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The Mortgage Pre-Approval Letter is a fundamental document in Philippine real estate transactions, serving as a preliminary commitment from a financial institution to a potential borrower. It is typically issued after an initial assessment of the borrower's creditworthiness, income stability, and financial profile, but before a specific property has been selected. The document outlines the maximum loan amount, potential interest rates, and key conditions that must be met for final approval. Used primarily in property purchase negotiations, it gives sellers confidence in the buyer's ability to secure financing while helping buyers understand their budget constraints. The pre-approval process must comply with Bangko Sentral ng Pilipinas (BSP) regulations, the Truth in Lending Act, and other relevant Philippine banking laws, ensuring transparency and fair lending practices.

1. Bank Information and Letterhead: Official bank letterhead including bank name, branch, address, and contact information

2. Date and Reference Number: Current date and unique pre-approval reference number for tracking purposes

3. Recipient Details: Full name and address of the potential borrower

4. Pre-Approval Confirmation: Clear statement confirming pre-approval status and validity period

5. Loan Terms: Maximum loan amount, interest rate range, and potential loan tenure

6. Property Requirements: Basic criteria for acceptable properties under this pre-approval

7. Financial Requirements: Required income documentation, debt-to-income ratio, and other financial criteria

8. Conditions Precedent: List of conditions that must be met for final approval

9. Validity Period: Clear statement of how long the pre-approval is valid for

10. Contact Information: Name and contact details of the loan officer or relationship manager

11. Authorization: Signature of authorized bank officer and official bank stamp