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Office off Mortgage Programs (OLP): Found in the Office of your President’s Financing Asset Strategies and you will Money Agencies, the office away from Mortgage Programs is responsible for the proper execution, delivery and management of property guidance applications to have employment and maintenance regarding faculty and you can elder executives.

Total Financial obligation to Money Proportion: The latest proportion, indicated once the a percentage, and this overall performance when a great borrower’s complete monthly obligations, for instance the suggested financial prominent, appeal, taxes & insurance policies and all of continual month-to-month debt (particularly charge card fee, student loan, mortgage, and you may car finance), was divided by gross monthly money.

Pre-approval : Certificate out of Pre-Approval granted by Office out of Loan Software one to says a borrower’s borrowing from the bank, property and you can earnings were verified in addition to candidate qualifies getting a course financing during the a designated matter and you will rate of interest.