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2. Documents needed for mortgage preapproval - AOL

   www.aol.com/finance/documents-needed-mortgage...

   Non-conforming or non-QM loans: For mortgages that fall outside of criteria set by the Federal Housing Finance Agency (FHFA) or the Consumer Finance Protection Bureau (CFPB), lenders often ...

3. Looking to buy your first home? Here's why (and how) to get ...

   www.aol.com/looking-buy-first-home-heres...

   While getting pre-approved does not guarantee you a loan offer — a home appraisal is usually required before a lender will finalize a mortgage's terms — it gives you a better understanding of ...

4. How to get preapproved for a mortgage - AOL

   www.aol.com/finance/preapproved-mortgage...

   Preapproval: Preapproval doesn’t guarantee you a loan; it’s just one step toward approval. The lender gives your finances a brief overview and, based on that, agrees in principle to loan you ...

5. Pre-approval - Wikipedia

   en.wikipedia.org/wiki/Pre-approval

   In lending, a pre-approval is the pre-qualification for a loan or mortgage of a certain value range. [1]For a general loan a lender, via public or proprietary information, feels that a potential borrower is completely credit-worthy enough for a certain credit product, and approaches the potential customer with a guarantee that should they want that product, they would be guaranteed to get it.

6. Pre-qualification - Wikipedia

   en.wikipedia.org/wiki/Pre-qualification

   In a mortgage context, pre-qualification denotes a process that has not yet been underwritten by the lending institution. Typically, subprime lenders will allow 50% DTI. . Common monthly debts used for calculating DTI are mortgage (or new mortgage payment), auto payment(s), minimum credit card payment(s), student loans, and any other common monthly or revolving debt that is on the applicant's ...

7. Mortgage underwriting in the United States - Wikipedia

   en.wikipedia.org/wiki/Mortgage_underwriting_in...

   Loan to value is a ratio of the loan amount to the value of the property. In addition, the combined loan to value (CLTV) is the sum of all liens against the property divided by the value. For example, if the home is valued at $200,000 and the first mortgage is $100,000 with second mortgage of $50,000, the LTV is 50% while the CLTV is 75%.