What Is The Meaning of AIP?
The meaning of AIP, is Agreement In Principle.
AIP is a common used acronym in mortgage finance. It is an abbreviation of the term ‘Agreement In Principle‘.
This is the first part of a mortgage application and is usually issued prior to any underwriting. It usually indicates what you can potentially lend, subject to underwriting and credit checks. You would normally expect that before an AIP is issued, that basic criteria checks have been completed by your mortgage advisor.
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