Mortgage

QWhat Kind Of Conditions Will My Loan Have?
AOne common condition is that the lender can re-verify your credit, income, assets, and employment at any time. In this case, the lender can cancel a loan commitment if there is an adverse change in the borrower's finances. Lenders run credit checks on prospective borrowers before they approve a mortgage. They also routinely run another credit check just before they issue the money to close the sale. If this last-minute credit check turns up a "red flag," it could change the status of the loan commitment.