Home Loans Arlington

letter of explanation for loan

All FHA cash-out refinancing with case numbers assigned after April 1, 2009 will have the loan-to-value or LTV limited to 85% of the appraised value of the home. That eliminates the 95% LTV cash out refinancing loans guaranteed by the FHA previously.

A gap in employment can be a red flag on a mortgage application. Lenders need to know your full financial history, so here’s how to explain unemployment.

mortgage loan application fee hud fha approved condos How to Find FHA-approved Condos in 3 Easy Steps | SuperMoney! – How to find FHA-approved condos in 3 steps How do you know if a condo is FHA-approved? Visit the U.S. Department of Housing and urban development (hud) website and navigate to the "Condominiums" page .Which fees should be included in the APR? – Mortgage Coach. – Loan-application fee Credit life insurance (insurance that pays off the mortgage in the event of a borrowers death) The following fees are normally NOT included in the APR:

There are times when a mortgage underwriter needs a letter of explanation for one or more items in your loan package. letters are often needed to explain a credit problem such as the circumstances.

Fortunately, when your loan officer or an underwriter requests a letter of explanation, it doesn’t have to be a big stress moment. It’s common for mortgage underwriters to ask for a written explanation for certain situations or problem areas in your credit history, employment or other areas.

Gower and his colleagues tested a few possible explanations for the Pleistocene male bias. We want to hear what you think.