If your credit report has any negative history, or if there is something in your mortgage application that requires more information, a lender may ask you to submit a “letter of explanation.” This isn ...

A letter of explanation for a mortgage is a document that provides further details about an applicant’s creditworthiness or financial circumstances. The letter of explanation addresses red flags that ...

Get guidance from trusted mortgage experts. If you're buying a home and your lender asks for a letter of explanation (LOE), it doesn't necessarily mean you’re in trouble. Lenders often request letters ...