2 responses to “Home loan approval question?”

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  Helen September 3rd, 2009 at 20:35

  RANDALL

  When applying for a home loan your credit report will be reviewed and you may be required to provide a number of other details, including: Employment and income records, Tax Returns for the last few years List of assets, List of liabilities and what you owe, Your budget showing monthly living expenses so that you can demonstrate an ability to pay.

  With this information you and your lender will be able to determine the kind of home loan and size of the right mortgage for you. In some cases, you can obtain a pre-approval or pre-qualified certificate, which shows how much you can borrow so that you can then shop for homes in an appropriate price range.

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  Steve L September 5th, 2009 at 05:28

  DANE

  Yes generally speaking one get the truth and lending statements in the mail. Often this will be followed by a letter from the actual lender in this case Sierra Pacific Mortgage. The key word, is the word “is your lender.” This is how my most recent mortgage went down. I received the disclosure statement followed by acceptance letter followed by a rejection letter however when you check the dates on the two letter you discover that the rejection letter is dated 4 days before the acceptance letter. I have been in my new double wide for three months now.