In order to determine if a borrower has the financial ability to afford a home, a mortgage lender will issue a loan qualification letter. There are two types of letters a mortgage lender will give to the buyer, and they are not created equal.
Summary
In order to determine if a borrower has the financial ability to afford a home, a mortgage lender will issue a loan qualification letter. There are two types of letters a mortgage lender will give to the buyer, and they are not created equal.