A pre qualification or lender letter for a mortgage is basically a letter from a bank saying how much money you qualify for on your new home. It is a very easy process and very painless. It can be done in a 10 minute phone call or filling out an app on your lender’s website. They basically ask you a few questions about your income and then run your credit. The letter basically states if all the info you gave the bank is true, you will qualify for a specific amount. All sellers require a lender letter to be submitted with all offers.