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The mortgage cycle involves the process of obtaining a loan to purchase a property and making regular payments to repay the loan.
1. Application: Borrower submits application with financial information.
2. Underwriting: Lender evaluates borrower's creditworthiness and property value.
3. Approval: Loan is approved or denied based on underwriting.
4. Closing: Borrower signs loan documents and funds are disbursed.
5. Repayment...
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