Counteroffer

The underwriting decision has three possible responses, one of which is a counteroffer.

The lender will evaluate your creditworthiness and income during the underwriting procedure. Assuming the lender determines that your application was not accepted, he or she may submit a counteroffer informing you that you have been approved for a different loan with different rates and terms. A longer-term loan with lower monthly payments may, for example, put you within underwriting guidelines for monthly debt to income when paired with your other monthly debt obligations.

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