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  2. What is a mortgage proof of funds letter? - AOL

    www.aol.com/finance/mortgage-proof-funds-letter...

    Provide the letter to the seller: As soon as you receive the proof of funds letter, pass copies along to your lender and the seller. As with all of your mortgage documents , keep another copy of ...

  3. Proof of funds - Wikipedia

    en.wikipedia.org/wiki/Proof_of_Funds

    Thus, a POF letter or statement provides the selling or lending party with confidence that the funds are obtainable and legitimate. [1] Proof of funds are also often required where there is a potential liability in the future for example it may be requested by governments on visa applications to ensure a traveler has the means to support ...

  4. Letter of credit - Wikipedia

    en.wikipedia.org/wiki/Letter_of_credit

    Standby letter of credit (SBLC): Operates like a commercial letter of credit, except that typically it is retained as a standby instead of being the intended payment mechanism. In other words, this is an LC which is intended to provide a source of payment in the event of non-performance of contract.

  5. Loan agreement - Wikipedia

    en.wikipedia.org/wiki/Loan_agreement

    Loan agreements are documented via their commitment letters, agreements that reflect the understandings reached between the involved parties, a promissory note, and a collateral agreement (such as a mortgage or a personal guarantee). Loan agreements offered by regulated banks are different from those that are offered by finance companies in ...

  6. Mortgage prequalification vs. preapproval: How to time these ...

    www.aol.com/finance/mortgage-prequalification-vs...

    Mortgage preapproval is a lender's conditional commitment to offer you a specific loan amount, usually good for 90 days. It involves filling out a full mortgage application, uploading financial ...

  7. VA Certificate of Eligibility: What it is and how to get one

    www.aol.com/finance/va-certificate-eligibility...

    A VA loan certificate of eligibility (COE) is the first step toward getting a VA loan. The U.S. Department of Veterans Affairs provides the COE, which serves as evidence that you meet the VA loan ...