A letter of explanation for a mortgage is a document that addresses red flags that might derail a mortgage approval, such as a period of unemployment or an unpaid credit balance. A letter of ...

Learn what you need to speed up the approval process Dhara Singh is a personal finance writer with more than 300 articles published online on topics related to personal loans, mortgages, and ...

Full mortgage approval also partly depends on the home ... you'll likely need to have them write a letter explaining that the funds are a gift. Conventional mortgage borrowers can put as little ...

Once approved, you receive a letter stating the specific loan amount you’re likely to be approved for. This pre-approval letter not only gives you a clear budget for your home search but also ...

If you are, you’ll be issued a preapproval letter stating the loan amount and maximum home purchase price you were approved for, along with the preapproval expiration date. You’ll also see the ...

But if you're renting, landlord references can help improve your mortgage pre-approval. Gift letters are important to trace sudden large deposits in your bank account. When it comes to documents ...

Sarah Scheper Just remember, a week before the close of escrow, don't buy a boat that has a $30,000 loan on it.” - Pa ...

An quick estimate of how large a loan you may be approved for. An in-depth review of your finances resulting in a pre-approval letter to show home sellers. Clay Jarvis is NerdWallet Canada's ...