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Common Sense Lending REQUEST FOR CREDIT AUTHORIZATION Applicant Name Address City Zip Phone # Phone # SSN Date of Birth / / Date of Birth / / Employer Length on Job Employer years months Income Frequency

How to fill out common sense lending

How to fill out common sense lending

1. Gather all the required documents such as proof of income, employment history, and credit reports.
2. Review the common sense lending application form thoroughly to understand what information needs to be provided.
3. Start filling out the form by entering your personal information such as name, address, and contact details.
4. Provide accurate details about your financial situation, including your income, expenses, and any debts or liabilities.
5. Include information about your employment history, including your current and previous employers.
6. Provide documentation to support the information you have provided, such as pay stubs, bank statements, and tax returns.
7. Double-check all the entered information to ensure accuracy and completeness.
8. Submit the filled-out common sense lending application along with the required documents to the appropriate lender or financial institution.
9. Follow up with the lender to track the progress of your application and provide any additional information if requested.
10. Wait for the lender's decision and review the terms and conditions of the loan offer if approved.

Who needs common sense lending?

1. Individuals who have a non-traditional or complex income structure and may not meet the strict requirements of traditional lending institutions.
2. Self-employed individuals who have fluctuating income and may not have a consistent employment history.
3. Borrowers with a low credit score or a limited credit history.
4. Real estate investors looking for financing options for investment properties.
5. Those who have been denied loans by traditional lenders but have the ability to repay the loan based on their individual circumstances.
6. Individuals who require flexibility in loan terms and eligibility criteria due to specific financial situations.
7. Business owners who need capital for business expansion or other purposes.
8. Non-US citizens or permanent residents who may not meet the criteria for traditional loans but have a valid visa or work permit.
9. People who value personalized and comprehensive underwriting process that takes their unique circumstances into account.

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What is common sense lending?

Common sense lending refers to the practice of using sound judgment and practicality in the lending process, taking into consideration the borrower's ability to repay the loan.

Who is required to file common sense lending?

Lenders, financial institutions, and credit providers are typically required to follow common sense lending principles.

How to fill out common sense lending?

Common sense lending is filled out by assessing the borrower's income, expenses, credit history, and other relevant factors to determine the loan terms.

What is the purpose of common sense lending?

The purpose of common sense lending is to ensure that loans are granted responsibly, minimizing the risk of default.

What information must be reported on common sense lending?

Information such as the borrower's financial situation, credit score, loan amount, interest rate, and repayment terms must be reported on common sense lending.