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Intermediary Portal Guide Version 205.15/DW/66166D/JAVIntermediary Portal Guide. ContentsVersion 2Useful Tips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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A decision in principle (DIP) is a statement from a mortgage lender that informs you of how much they may be willing to lend you for a mortgage.
Potential homebuyers seeking a mortgage are required to file a decision in principle (DIP) with a mortgage lender.
To fill out a decision in principle (DIP), you will need to provide personal and financial information to the mortgage lender.
The purpose of a decision in principle (DIP) is to give you an indication of how much you may be able to borrow for a mortgage, helping you in your homebuying journey.
The decision in principle (DIP) typically includes information such as your income, expenses, credit history, and the amount you are looking to borrow.
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