Our letters always explain the parameters of the loan, the type of loan, and the amount (if any) of closing costs the seller is expected to pay, as well as cover items that will be needed to complete the loan, such as an acceptable appraisal and clear title work. I hope this helps you! Jim
The letter should stae funds has been setaside for this purpose and committed to this transaction.
They need to have proof of funds, preferably in an escrow account.
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