What Factors Determine If You Qualify For A Mortgage Loan?
After years of renting an apartment, you have decided to take a leap, apply for a mortgage loan to own your home. Unfortunately, not everyone who applies for mortgage loans qualifies. So, what factors determine if you qualify?
Consistent Income
Any mortgage lender starts by considering your household income. While there is no set minimum amount of income you should have, your lender considers your income to make sure that you earn enough to offset your premiums alongside other bills.
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