Borrowing Strengths and Weaknesses Determines Your Options
Evaluate The "Key Three"
Credit, Income and Assets - The Cornerstones Of Qualifying
Evaluating these three key components for strengths and weaknesses, is an important first step towards determining your mortgage loan options.
Qualifying cornerstones are key components in your borrowing profile that determine not only if you "qualify" for a loan, but also how much down payment will be required, maximum loan amount that can be borrowed, available loan amortization and product type, interest rate, monthly payment and costs for the loan.
Assessing your borrowing strengths and weaknesses, will deepen your understanding of your own individual circumstances, which in turn will help narrow and guide your search for a mortgage lender that is your perfect "fit".
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Evaluating the key components in your borrowing profile will help guide your home purchasing decisions, and refinancing options if you already own a home.
Questions such as how much can I borrow, down payment needed, total monthly payment and other loan details such as interest rate and fees will be answered.