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  2. Documents needed for mortgage preapproval - AOL

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

    Loan statements from the past 60 days – auto loans, credit cards, personal loans, student loans and others Credit reports and scores, retrieved by the lender with your authorization

  3. Here are questions to expect on a mortgage application. What is included in a mortgage application? The mortgage application is an individual’s formal request for funds to purchase a specific ...

  4. How to get preapproved for a mortgage - AOL

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

    In general, lenders like to see a mortgage payment taking up no more than 28 percent of your gross monthly income and your total debt payments (which include credit cards, car loans and other ...

  5. 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 ...

  6. Common reasons why mortgage applications get denied - AOL

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

    Bear in mind that, even with a manual underwriter, your loan still has to conform to specific requirements. Bottom line. The mortgage application process can be full of surprises — with a key ...

  7. Verification of employment - Wikipedia

    en.wikipedia.org/wiki/Verification_of_employment

    Verification of Income and Employment (VOIE) is a process [1] used by banks and mortgage lenders in the United States to review the employment history of a borrower, [2] to determine the borrower's job stability and cross-reference income history with that stated on the Uniform Residential Loan Application (Form 1003). Lenders require complete ...

  8. Mortgage prequalification vs. preapproval: How to time these ...

    www.aol.com/finance/mortgage-prequalification-vs...

    Mortgage preapproval is a lender's conditional commitment to offer you a specific loan amount, usually good for 90 days. It involves filling out a full mortgage application, uploading financial ...

  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 ...