When
applying for a mortgage, the amount of your loan varies on a number of things. The first one is the value of the property you own at the moment. Most of the time, this question is asked so the company will know about properties you own. Furthermore, it can be used as collateral for your credit.
The next thing that is asked is the
mortgage amount you are applying for. Before giving the certain amount to you, the company might do a
background check on you. The last question that is usually asked is whether you will rent the property you are buying or not.
