Last Updated on 06/02/2017 by GS Staff What is the difference between a loan amount and purchase price? Loan amount and purchase price sometimes get confused in a purchase transaction. It can be difficult to distinguish between the two figures if you are not familiar with the lending process. The loan amount is the amount …
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Last Updated on 11/11/2017 by GS Staff When you apply for a mortgage, it is likely that your lender will have you sign IRS Form 4506-T. A signed 4506-T gives the lender the ability to obtain tax return transcripts for the years that they request. It can also verify past form W-2, form 1099, and …
Last Updated on 11/16/2017 by GS Staff What do mortgage underwriters look for on bank statements? The underwriter is responsible for reviewing items such as income documents, asset statements, credit reports, and other documentation. They base their decision on a loan after a review of this documentation. Bank statements or other asset documentation is typically required to …
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Last Updated on 06/11/2017 by GS Staff What is a gift letter for a mortgage? Some people have the benefit of receiving a gift when they obtain a mortgage. The gift comes from another individual willing to give the borrower assistance in securing a loan without expectation of repayment. Gifts are often classified into two categories: …
Last Updated on 06/02/2017 by GS Staff Do mortgages appear on a credit report? It is very likely that if you obtain a mortgage it will show on your credit. This is especially true if the lender is a large bank like CitiMortgage, Wells Fargo, or Bank of America. Information that is reported on your credit …
Last Updated on 06/11/2017 by GS Staff A mortgage underwriter works for a bank or other mortgage lender. They are responsible for determining the eligibility of a borrower for a mortgage loan based on the lender’s guidelines. An underwriter will review documentation like bank statements, pay stubs, appraisals, and credit reports to determine the creditworthiness …
Last Updated on 06/29/2021 by GS Staff Q: Do bank stock pay dividends? Many bank stocks do pay dividends, but not all of them. You must look at each bank stock individually to determine if it pays dividends. You can determine if a bank stock pays dividends by going to a financial website like Yahoo! …
