Posts Tagged ‘Getting a home mortgage’

Obtaining A Mortgage

Saturday, February 15, 2014 posted by Martin
Success Motivational Stone

Success Engraved Stones

These days, it is harder to obtain a mortgage than it was 10 years ago.  Think back to the days when there was no income verification and just about anyone that applied could get a mortgage for 5% down even though they were struggling to pay their bills.

Today, there are lots of factors which determine who can get a mortgage at a low rate.  Sure, paying your bills on time is a major factor, but there are others.  Lenders look not only at your credit score, but also at how able you are to pay back the loan.  They look at your debt to equity ratio and how solid your income stream is.   Your credit score is everything.  Never neglect a bill.  If you are having a problem, contact the creditor in advance and make them aware of it and how you will correct the problem.  Also, when applying for a mortgage, be accurate and complete.  Place a personalized stone etching on your desk when you get approved.

Did you like this? Share it:
Comments Off on Obtaining A Mortgage