Residual income estimates
Below is a letter I received from the bank I applied for 5% down conventional mortgage loan. Why they need this information and what this means to me? I have not received the form they want me to sign yet. Should I be nervous? Thank you for your feedback.
Thank you for choosing us for your home financing needs.
We've reviewed your mortgage application and other documentation you provided. Before we can make a credit decision,
we need you to send us some additional information right away.
What you need to do
Please send us the following items by September 30, 2019. If you're unable to provide us with this information, please
contact us as soon as possible to discuss other arrangements.
Applicant To Provide : Signed and dated Acknowledgment of Estimated Residual Income form sent to you by the bank.
If your loan is eligi securely upload the documents on yourLoanTrackerSM