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

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

   If your lender asks you to submit a letter of explanation, the request probably reflects a particular piece of info or irregularity in your mortgage application that raised a red flag. A letter of ...

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

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

   Applying for a loan to buy a house means meeting the standards and criteria set by a mortgage lender. That requires the fairly involved process of providing it with your financial documents (be ...

4. Mortgage application: What’s included and how to prepare - AOL

   www.aol.com/finance/mortgage-application...

   The mortgage application is an individual’s formal request for funds to purchase a specific property. So the information it needs includes details about the home and its price, as well as the ...

5. Mortgage assumption - Wikipedia

   en.wikipedia.org/wiki/Mortgage_assumption

   VA Loans - All mortgages executed after March 1, 1988, require that the buyer be creditworthy to assume a seller’s mortgage. If a VA Loan is being assumed by a veteran with a home loan eligibility, the seller may also request to have their eligibility re-instated upon completion of the assumption.

6. Documents needed for mortgage preapproval - AOL

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

   Non-conforming or non-QM loans: For mortgages that fall outside of criteria set by the Federal Housing Finance Agency (FHFA) or the Consumer Finance Protection Bureau (CFPB), lenders often ...

7. Pre-approval - Wikipedia

   en.wikipedia.org/wiki/Pre-approval

   In lending, a pre-approval is the pre-qualification for a loan or mortgage of a certain value range. [1]For a general loan a lender, via public or proprietary information, feels that a potential borrower is completely credit-worthy enough for a certain credit product, and approaches the potential customer with a guarantee that should they want that product, they would be guaranteed to get it.

8. Pre-qualification - Wikipedia

   en.wikipedia.org/wiki/Pre-qualification

   In a mortgage context, pre-qualification denotes a process that has not yet been underwritten by the lending institution. Typically, subprime lenders will allow 50% DTI. . Common monthly debts used for calculating DTI are mortgage (or new mortgage payment), auto payment(s), minimum credit card payment(s), student loans, and any other common monthly or revolving debt that is on the applicant's ...

9. 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 ...