HOME | DD

Description
An Agreement in Principle (AIP) is a document that outlines the terms of a potential mortgage agreement between a borrower and lender. It is not legally binding, but it does indicate the amount of money that the lender is willing to lend to the borrower. It also shows that the lender has done their due diligence on the borrower and their financial situation. AIPs are important for borrowers as they assure that they can get a mortgage if they meet all of the criteria set out by the lender. Understanding how AIPs work can help borrowers make informed decisions about their mortgages and ensure they get the best deal possible.

Description
An Agreement in Principle (AIP) is a document that outlines the terms of a potential mortgage agreement between a borrower and lender. It is not legally binding, but it does indicate the amount of money that the lender is willing to lend to the borrower. It also shows that the lender has done their due diligence on the borrower and their financial situation. AIPs are important for borrowers as they assure that they can get a mortgage if they meet all of the criteria set out by the lender. Understanding how AIPs work can help borrowers make informed decisions about their mortgages and ensure they get the best deal possible.