When Applying For A Mortgage, The Lender You Have Chosenwill Take Many Factors Into Account. These Factors Not Onlyinfluence What Type Of Loans You Can Qualify For But Alsowhat Your Monthly Payments Will Be And How Many Years Youwill Take To Pay The Loan Off Completely.Knowing These Factors And Doing What You Can To Improvethem All Can Make A Tremendous Difference When You Go Andsee Your Lender And Start The Process That Will Get Youyour New Property.Some Of The Basic Factors Apply For Just About Any Loan Butare Especially Important If You Are Trying To Get Amortgage. The Big One Is, Yep, Credit.How Good Is Your Credit Get Copies Of All Of Your Creditreports From The 3 Major Consumer Reporting Companies Andcheck Each One For Errors.Many Times They Have Errors That Can Be Corrected In Just Afew Weeks And That Helps Boost Your Score. If You Havecredit Cards, Pay Them Off As Well As Any Other Outstandingbills.A Nice Large Down Payment Will Always Improve Your Chancesof Being Approved. If Your Credit Isnt Completely Topnotch, The Bigger The Down Payment, The More Likely Youwill Get Improved.If Your Credit Is Great, You Can Still Put Down As Much Aspossible To Lower The Monthly Payments Or Decrease Thetotal Loan Time.Above All Else, Dont Lie To Your Lender. If You Tell Themyou Are A Supervisor Of A Power Plant And They Find Out Youare A UPS Man Who Has Only Had The Job For 6 Months, Youwill Be Totally Screwed. Be Honest And Your Lender Will Dotheir Best To Work With You.
