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

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

   Issues on your credit report: Perhaps you were delinquent on past debt payments. Your letter of explanation accounts for your tardiness or other issues. Your letter of explanation accounts for ...

3. 13 Tips On How To Get Preapproved for a Mortgage - AOL

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

   “This will give you an idea of what kind of interest rates and loan options you may qualify for.” You can request a free credit report from each of the three major credit bureaus — Equifax ...

4. How to shop for a mortgage without hurting your credit score

   www.aol.com/finance/shop-mortgage-without...

   The more debt you have, the less mortgage you will qualify for. Check your credit report. Whenever you apply for a loan, knowing where you stand credit-wise is important. If you check your credit ...

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. Documents needed for mortgage preapproval - AOL

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

   Documents such as employment and income verification, asset statements, debt information, credit history and identification are necessary for mortgage preapproval.

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

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

   Borrowers with a very good FICO score of 740 and up tend to qualify for the lowest mortgage rates. Wait for underwriting. Lenders assess your credit history and finances to determine your ability ...

8. How to buy a house with bad credit - AOL

   www.aol.com/finance/buy-house-bad-credit...

   Key takeaways. You can get a mortgage with a credit score as low as 620, 580 or even 500, depending on the type of loan. Some mortgage lenders offer bad credit loans with more flexible qualifying ...

9. Prequalified vs. preapproved: What’s the difference? - AOL

   www.aol.com/finance/prequalified-vs-preapproved...

   A mortgage preapproval is a letter or written statement specifying your maximum loan amount and the lender’s commitment to fund the loan if your financial situation remains unchanged.