Mortgage Tip: The “Comfort Letter”

Letter slot.Do you have clients applying for a mortgage who are worried about some hard-to-explain aspects of their application? Counsel them to attach a “comfort letter.”

This piece, “Mortgage Comfort Letters: No Need to Panic,” explains that comfort letters are “statement(s) clarifying your financials so [lenders] can get you to the closing table with minimized risk.” There are a few key instances where a comfort letter might help:

1. Employment lapses.
2. Large bank deposits.
3. New job status.

Check out the rest of the details here:

Tags: , , ,

Please support the partners who make Tuesday Tactics possible:


Comments are closed.