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What is
Debt-to-income-ratio?
It is the ratio of
your debt payments per month (including mortgage debt) to your gross
income per month.
On which
criteria the sanctioning of a loan depends?
There are three
criteria for a mortgage program sanctioning: LTV, Debt ratio & FICO
score.
What is Lien and
Lien Holder?
Lien is the legal claim
on a property until the debt on that property is repaid. Lien Holder can
be an individual or an institution that has a lien on someone’s other
property. |