US Mortgage Interview Questions and Answers

The documents used in US Mortgage include income verification, credit reports, bank statements, tax returns, and property appraisal.

• Income verification

• Credit reports

• Bank statements

• Tax returns

• Property appraisal

A mortgage is a loan used to purchase a property, where the property itself serves as collateral for the loan.

• A mortgage is a type of loan specifically used for buying real estate.

• The property being purchased is used as collateral to secure the loan.

• The borrower makes regular payments to the lender over a specified period of time.

• If the borrower fails to make payments, the lender can foreclose on the property.

• Mortgages can have fixed or adjustable interest rates.

• Common types ...read more