I gave you the Cs to sell a home....now here are the 4Cs of Mortgage Underwriting
Buying a Home in Brentwood Ca?
This post is 4 things you need to know about what it takes to get a Loan to Buy a Home. She has summed it up very well.
For more information on Buying a Home in Brentwood or Beyond give me a call at 925-260-4321.
In a recent post, I wrote about Preparing a house for sale: Do the C's to get more C (Cash)
Then today , one of my favorite bloggers, Steve Harney, blogged about the 4C's of Mortgage Underwriting.
Who knew getting Cs could be such a good thing.
Here are Steve's C's:
CAPACITY is the analysis of comparing a borrower’s income to their proposed debt. It considers the borrower’s ability to repay the mortgage.
CREDIT is the statistical prediction of a borrower’s future payment likelihood.
CASH is a review of your asset picture after you close. There are really two components – cash in the deal and cash in reserves.
COLLATERAL refers to the appraisal of your home. It considers many factors – sales of comparable homes, location of the home, size of the home, condition of the home, cost to rebuild the home, and even rental income options.
Take a look. Pretty soon, someone may come up with more Cs' for other things. What to look for in a property inspection, perhaps?
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