All banks involve formal processes for loan or line of credit services. A loan application letter is a formal written document to help you request for monetary credit services on some kind of secured mortgage.
A loan request or application letter provides relevant information for the purpose of asking loan to the concerned authority. This letter explains your intent, credit history and other prominent points essential to get you approved for the loan or loan modification.
The application process is quite similar to the application letter for mortgage. The only point which makes it different is when you are applying to have a loan modification you as an applicant must provide a reason of hardship along with your application.
Hardship letter or a loan application for modification is the first thing the lender notices while reviewing an application to modify a mortgage. A good application letter will include the entire sequence of proceedings leading up to the event that necessitated the application.
Sample Loan Application Letter
65, Howard Street
Mr. Norman Reed
87 United Streets
9 May, 2014
Subject: Sample loan application letter
Dear Mr. Reed,
I am writing this application letter to notify you that I need a loan modification as I was out of a job from March 2014. I have tried my best to find a good job but there has been no positive response at hand. This has highly affected out mortgage plan. We have tried everything we can to cope up with this problem. Unfortunately, our economic state no longer permits us to make our mortgage disbursement. I, therefore request you to consider my application for a loan modification.
As you can understand that our home is so important for me and I am trying all the possible efforts to keep our home.
Without a cut on the interest, I will not be able to pay the monthly payments. I am forced to choose between a loan modification and a foreclosure. Kindly provide an opportunity for the former, it will be really appreciated.
Please consider my application and I hope to hear positive from you on the matter.
Given Below are a few Application letter samples for a clearer Idea.
Grant Application Letter Sample
Grant Application Letter is addressed to such potential organizations, governments, foundations, philanthropic organizations and councils through which a person can request or appeal for grants
Unsolicited Application Letter
Writing a speculative application directly to an organization instead of waiting for an advertisement of a vacant position can be a more rapid and straighter route to land on a job.
Leave Application Letter
If you are planning to take leave for some days due to some personal or professional reason, it is always sensible to report your employer beforehand in order to provide him some time to make arrangements
Application Letter for Librarian Position
A formally written application is the first requirement for any job opening. As such for the vacant position of a librarian you need a well written professional application too.
Application Letter for Promotion
Every organization holds this policy where the hardworking employees are promoted in order to motivate them to continue with their job.