Your information is secured and won’t be
A Mortgage Lender is interested in your employment stability and your qualifying income.
The relationship between your income and your expenses will be of great importance. This is called your Debt to Income Ratio (DTI). Your DTI can determine what type of loan you are qualified for and can impact your money needs to purchase a home.
Before you contact an Agent or Lender, you should have an idea of the type of loan you can quality for to estimate down payment needs.
In addition to downpayment, you must be prepared to have enough funds for closing costs. These costs include Lender fees, taxes, insurance, title fee’s, etc.
Your credit score is used to predict your ability to repay the mortgage obligation. Generally, those with higher scores quality for loans with more favorable terms.
If you have had past issues with your credit, no worries. Get Mortgage Ready can help improve your scores.
Those with good credit scores can still be declined if certain items appear on your report. Identifying issues in advance can be the difference between a loan approval or denial!
Employement & Income
Based on your answers, your Total Mortgage Readiness Score has been calculated.
Next step is to gather additional information to determine home affordability, funds needed, savings opportunities and to identify potential issues and their solutions.
Amount must be greater than 700 and less than 10,000.