To help clarify that it difference, brand new comments twenty five brings such examples of questions whenever a customer calls or asks for next:
- Getting financing terminology, a member of staff of your financial shows you the newest creditor’s basic mortgage terms and conditions, such as for instance interest levels, loan-to-really worth (LTV) proportion, and debt-to-income (DTI) proportion.
- For rates to possess auto loans and to price the right rate, the loan officer requests new build and you can sales price of the car while the quantity of the newest advance payment, upcoming supplies the user the pace.
- For terminology for a loan to acquire a house, the consumer tells the loan administrator their unique money and you will implied down commission, nevertheless financing officer just demonstrates to you new creditor’s LTV ratio coverage and other earliest financing regulations, as opposed to telling an individual whether she qualifies for the mortgage. Fortsett å lese «A great prequalification describes a demand to choose if the an applicant would be eligible for borrowing from the bank if the he used»