An agreement in principle (AIP) – also called a decision in principle (DIP) or mortgage in principle (PMI) – is a written estimate or statement from a lender to say how much money they would lend you if you bought real estate. Even if you have obtained an AIP, you may not receive a formal mortgage offer. This can be for a number of reasons, for example. B if you have recently been declared bankrupt, if your financial history is incomplete, or if you have only been employed for a few months. It is usually possible to request the renewal of the contract, but this may include a new soft credit review. However, it is important to bear in mind that it is in principle proposed. If you make a formal application for a mortgage, the lender has the right to change the details of the transaction, or they may decide not to grant you the loan (for example.B.