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I gave you the Cs to sell a home....now here are the 4Cs of Mortgage Underwriting

Reblogger Gene Riemenschneider
Real Estate Broker/Owner with Home Point Real Estate DRE # 01492725

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.

Original content by Pacita Dimacali BRE 01367196

In a recent post, I wrote about Preparing a house for sale: Do the C's to get more C (Cash)letter C

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?