Asked by HseSeeker
I am keen to get a condo that is a new development.
I am in the midst of getting Approval In Principal (AIP) from the bank, however I understand that even if I got the AIP it is not a binding offer. The banker had requested for me to submit my income documents and allow access to credit bureau.
Are there any ways that I can get a binding offer before I pay the 5% deposit? I am worried that the bank may decline my loan application in the end as I have some other financial commitments though I have been paying bills on time.
Thank you
I am in the midst of getting Approval In Principal (AIP) from the bank, however I understand that even if I got the AIP it is not a binding offer. The banker had requested for me to submit my income documents and allow access to credit bureau.
Are there any ways that I can get a binding offer before I pay the 5% deposit? I am worried that the bank may decline my loan application in the end as I have some other financial commitments though I have been paying bills on time.
Thank you
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