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Which two of these are essential for completing an initial mortgage loan application quizlet.

Sagot :

Lanuel

The two (2) information that are essential for completing an initial mortgage loan application include:

  1. Proof of income.
  2. Current debts and credit history.

What is a mortgage loan?

A mortgage loan can be defined as a secured loan that is typically used to finance (purchase) or maintain a property in real estate such as a land, home, etc.

The feature of a mortgage loan.

Basically, a mortgage loan is usually provided to a borrower by a mortgage lender or a financial institution (bank) while an immovable asset (collateral) is promised by the borrower to the mortgage lender in the event that payments are stopped.

During the application of a mortgage loan, the borrower uses his or her home as a collateral. Thus, these two (2) information are essential for completing an initial mortgage loan application:

  • Proof of income.
  • Current debts and credit history.

Read more on mortgage loan here: https://brainly.com/question/14311797

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