approval: Do I Need to be Pre-Approved Before I Go Look for My Home?
- 01/06/12 05:16 AM
Getting pre-approved for a loan can be a fairly easy process. So how do you get pre-approved for a home loan?The bank will look primarily at four different items when you are looking to borrow money for a home.They are going to look at: (1) what your annual income is; (2) what your monthly debt obligations are; (3) what your credit score is; and (4) how much money you have available to put as a down payment on the home. For pre-qualification, the lender is really looking primarily at your annual income. Generally you can multiply your annual income by 3 … (0 comments)
Getting pre-approved for a loan can be a fairly easy process. So how do you get pre-approved for a home loan?The bank will look primarily at four different items when you are looking to borrow money for a home.They are going to look at: (1) what your annual income is; (2) what your monthly debt obligations are; (3) what your credit score is; and (4) how much money you have available to put as a down payment on the home.
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