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Mortgage Acronym cheat sheet. gfe: Good Faith Estimate. A GFE is a document that the lender is required to give a prospective borrower when they apply for a loan. The GFE is an estimate of all closing costs and fees required for the proposed mortgage loan. gpm: Graduated Payment Mortgage.
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Browse and search thousands of Mortgage Abbreviations and acronyms in our comprehensive reference resource.. Know a good shorthand in the Mortgage jargon that we miss? Don’t keep it to yourself!. Get instant explanation for any acronym or abbreviation that hits you anywhere on the web!
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If you already know the mortgage amount you need, lenders can use the income to determine if you qualify for the amount you want to apply to receive. Tax Returns. You also want to take along copies of your tax returns for the past two years. You need the entire tax form including any schedules that you file.
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When it comes to getting a mortgage on a property that’s in a PUD, you will definitely need to make sure your mortgage lender is aware your property is in a PUD. If you’re getting serious enough to write an offer on a property that’s in a PUD, your realtor will probably have told you that it’s in a PUD.