Qualifying for a Home Loan There are two main factors mortgage companies look at to qualify a home buyer. - The borrower's ability and willingness to repay the loan.
- The ability to repay the mortgage is verified by your employment and income.
The borrowers willingness to repay is determined by understanding how the property will be used. For example, will you live there or rent the property out? Willingness is closely related to your previous financial commitments, with a emphasis on your credit report, rent and utility bills. There are no rules carved in stone, and each applicant is handled on a case-by-case basis. Everyone involved in real estate is in the business of selling homes one way or another. If a loan makes sense, mortgage companies will do there best to see you qualify. Many borrowers are taking advantage of low down payment mortgages and new homeowners can make a purchase with as little as five percent down. To obtain current information on how to take advantage of the benefits of a low down payment home loan with mortgage insurance, contact your local mortgage professional. | 
