The rate range you receive after completing the Rate Check is an estimate. It is based on limited information and relies on the accuracy of the details you self-report. Once we receive your full loan application, we can perform a complete assessment of your personal and financial profile. This allows us to determine whether we can extend an offer and what your final rates may be.
If there is a difference between the estimated range and your approved rates, it may be because we were unable to verify certain figures listed during the Rate Check, such as income or assets, during our review. Because your rate is based on information we can verify, any changes or discrepancies between what was entered during the Rate Check and what we confirm during review may affect the final offer.
For more information on how we evaluate income, please review this article. For details on the types of assets we can consider, you can visit this article.