The Mortgage Loan Application - Page 2 - 05/12/11 11:51 AM
First, get a copy of the loan application by clicking here.The Loan Application
There are 4 pages in a mortgage loan application It is divided into 10 sections This tip will discuss Sections IV and V (both on page 2) NEVER complete the loan application by yourself. The lender should ALWAYS do it for you. If your lender tells you to complete it yourself, or to complete it online, then you need to find a new lender. Section IV
Section IV is EMPLOYMENT INFORMATION All loan applications require 2 full years of employment history Does NOT mean you need to have a … (0 comments)

Property Marketability - 05/12/11 10:15 AM
There are two distinct things that must be approved before a lender will give a borrower any money to buy a house: the borrower and the property.Getting the borrower approved is easy. Collect the right information, run it through the underwriting software, and send everything to underwriting to make sure the borrower's information was entered into the software correctly. Getting a property approved is a bit more complicated. First, the appraisal must show that the property is worth what the buyer is paying for it. The appraisal must also show that the property is marketable. The lender cares about marketability because … (0 comments)

 
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Chris Thomas

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