Question

which of the following is something you would not expect to see on a basic loan application?
a. employers name and address
b. doctors name and address
c. annual or monthly income
d. current monthly rent or mortgage payment

Explanation:

Analyze loan application requirements

Using the Loan Application Requirements knowledge point

Lenders require specific financial and employment information to assess a borrower's ability to repay a loan:

• Employer's name and address verifies employment status and stability.
• Annual or monthly income establishes the borrower's capacity to make monthly payments.
• Current monthly rent or mortgage payment helps calculate the debt-to-income ratio.

A doctor's name and address is personal medical information and is not relevant to evaluating creditworthiness or financial capacity for a basic loan.

Answer:

• a. employer's name and address
• b. doctor's name and address (Correct answer)
• c. annual or monthly income
• d. current monthly rent or mortgage payment