What does a mortgage lender consider when making a loan decision?
A mortgage lender generally looks at three areas: • Income and Assets: To determine your ability to repay the loan. • • Debts and Credit History: To evaluate your buying habits and your history of repaying other financial obligations. • • Property Information: An appraiser compares the home you are buying to similar homes in your area to make sure the property provides sufficient collateral for your loan.
A mortgage lender generally looks at three areas: Income and Assets: To determine your ability to repay the loan. Debts and Credit History: To evaluate your buying habits and your history of repaying other financial obligations. Property Information: An appraiser compares the home you are buying to similar homes in your area to make sure the property provides sufficient collateral for your loan.
A mortgage lender generally looks at three areas: • Income and Assets: To determine your ability to repay the loan. • Debt and Credit History: To evaluate your buying habits and your history of repaying other financial obligations. • Property Information: An appraiser compares the home you are buying to similar homes in your area to make sure the property provides sufficient collateral for your loan.
