Loan Processor Question:
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Please explain what is Line of credit?


Line of credit is an agreement or arrangement between the bank and a borrower, to provide a certain amount of loans on borrower's demand. The borrower can withdraw the amount at any moment of time and pay the interest only on the amount withdrawn. For example, if you have $5000 line of credit, you can withdraw the full amount or any amount less than $5000 (say $2000) and only pay the interest for the amount withdrawn (in this case $2000).

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Explain me what have you done in the past year to make yourself a better Mortgage Loan Processor?Do you know what is debt-to-Income ratio?