People are sending loan application letters in order to request for a monetary credit service which is usually based on some type of secured mortgage. It is important to formulate the letter in a sincere and humble way so that the receiver will trust you. These letters help the applicants build a case and a well-written letter can make the process of getting a loan easier for you.
Sample Loan Application Letter:
Name of the receiver
Position of the receiver
Company of the receiver
Address of the receiver
I am writing this letter in order to express my reasons of requesting the change of the conditions of the mortgage loan that I previously requested. My intention is to purchase a (name of the product) at the price of (price of the product). My request is to reduce the interest that I am paying to (interest rate). I consider this a fair interest rate for you and it would make it possible for me to reach my goals.
In case the interest will not be reduced, I will not be able to meet my monthly payments. My option is to choose between a foreclosure and a reduction of the monthly payments. Having reduced payments is more preferable for both parties. (Interest rate) is the most that I can handle, even if all costs are cut.
Thank you for considering my application and I hope that I will hear from you regarding this matter and that we will find a mutually advantageous solution.
Name of sender