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2. How to write a letter of explanation for a mortgage - AOL

   www.aol.com/finance/write-letter-explanation...

   There’s no need to panic if a lender requests a letter of explanation: It’s a common part of being granted conditional approval for the loan. Still, it’s important to do the job right. Still ...

3. What is conditional approval in a mortgage application? - AOL

   www.aol.com/finance/conditional-approval...

   Unconditional approval: Once you’ve satisfied all the lender’s criteria or conditions to get a home loan, you receive unconditional approval. It indicates the underwriter has signed off on ...

4. What is a mortgage proof of funds letter? - AOL

   www.aol.com/finance/mortgage-proof-funds-letter...

   Before you can get a mortgage, you will need a mortgage preapproval letter. This is a document from a mortgage lender showing a proposed loan amount for a given borrower. While a preapproval ...

5. FHA loans: Definition, requirements and limits - AOL

   www.aol.com/finance/fha-loans-134807555.html

   Credit score minimum. 620. 580 with a 3.5% down payment or as low as 500 with at least 10% down. Down payment minimum. 3% for fixed-rate loans; 5% for adjustable-rate loans

6. Guide to FHA adjustable-rate mortgages - AOL

   www.aol.com/finance/guide-fha-adjustable-rate...

   Mortgage insurance premiums (MIP): 1.75 percent of the amount borrowed at closing, plus annual premiums based on the amount borrowed, down payment and loan term (15 or 30 years)

7. Mortgage assumption - Wikipedia

   en.wikipedia.org/wiki/Mortgage_assumption

   VA Loans dated prior to March 1, 1988 can be transferred without the approval of the lender, and the seller may still be released from liability on the mortgage loan. [3] FHA-insured loans originated before December 1, 1986, generally contain no restrictions on assumability. Due to the HUD Reform Act of 1989 FHA mortgages executed between 1986 ...

8. Documents needed for mortgage preapproval - AOL

   www.aol.com/finance/documents-needed-mortgage...

   You will also need to provide information about your current mortgage, including the lender’s name and account number, loan type, monthly payment amount, outstanding balance and credit limit.

9. 13 Tips On How To Get Preapproved for a Mortgage - AOL

   www.aol.com/13-tips-preapproved-mortgage...

   While some loan programs allow for lower down payments, having a larger down payment can increase your chances of getting preapproved for a mortgage and could result in better loan terms, Nelson said.