Mortgage Broker Submission-option
Write a professional broker submission form to the lender to get the best finance option for purchasing an asset
Would you like to prepare Mortgage broker submission form? Then, the best way is to research extensively in online and pull out the professional format that includes all the terms and conditions clearly. However, this form should contain all the clauses which would stand as a concrete proof for you, in case, if you are in conflict with the mortgage companies. Generally, this Mortgage broker submission form includes all the vital details such as address, city, state, zip code, company name, social security number, loan amount, down payment and borrower name. However, you need to ask your sales agents to explain the clauses in this form thoroughly. Also, you also need to take ample time to go through the terms clearly without getting over excited. Moreover, this form is submitted to the lender by the sales agent on your behalf. Generally, this form or letter is written by a sales agent to the lender/broker to show you the best financing options as per your credit score to purchase a mortgage.
In this application, the agent requests the broker to go through your loan application and check the kind of mortgage loans you can get based on your credit history. This is one more reason to include social security number in the letter. You have to include the property address, down payment you can make, and the loan amount you would need to purchase the property. Most importantly, the agent also mentions the interest you can afford to pay every month in the agreement. After analyzing this form, the lender will approve the loan, if you meet their criteria otherwise they reject your application. In addition, the agent also asks the lender to rate you based on your credit history, i.e. as a good or bad candidate. This actually lets the sales agent know about your ability to repay the interest on time.
Where to download Mortgage Broker Submission-option Template?
Sample Template Preview
The Pinnacle Group, LLC.
Address, City, State, Zipcode
Phone: 254-000-0000 Fax: 254-000-0000
To: Your Broker / Lender
From: You or your Salesperson
Re: Financing (for your prospect’s name)
Can you please take a look at this application to see what kind of LTV you can do
based on his score?
Borrower: Your prospects name
Social Security # 123-45-6789
Purchase Price: $149,500
Down Payment: $8,000
Loan Amount: $141,500
Property: 1234 Jones Street, Anywhere, Georgia 30005
I am attaching his application which authorizes you to pull his credit. Please keep in mind that he states he can afford $1,250 per month so can you select a financing
program that allows his principal and interest payment to be somewhere near that figure? Also, if he cannot get financed today, does he look like a good candidate once
he has a track record of paying for 12 months?
Thanks in advance for all of your help.
You or your salesperson
- Affadavit & Memorandum of Option 1 Party Agreement
- Affadavit & Memorandum of Option 2 Party Agreement
- AFFIDAVIT OF OWNERSHIP-Options
- Assignment of Option Agreement
- Loan Authorization
- Notice of Intent to Exercise Option
- perf mortgage addendum-option
- Release of Option — MUTUAL RELEASES-Options
- Straight Option