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Factors impacting your Mortgage Approval

Ready to buy your own dream house, well its impoortant to see how much you can lend.

Factors impacting your Morgage Approval

  • Income of the Buyer- Income Plays an important part as this is a clear indicator for the lender to check if you can payback the loan amount.
  • Down Payment-Lenders can not lend you 100% of the project cost. More downpayment you can put better chance of getting an approval with best intrest rat
  • Assests Buyer Have- Buyer already having assets make lending company more secure and makes them easy to provide the mortgage.
  • Credit Score of the Buyer-Credit score gives a lender an overview of your previous and current debts and how you have been paying your old debts. Credit Score above 680
  • can for sure make your mortgage approval easier.
  • The Property itselfe-Mortgage is done on the asset you are buying, so an apprasial is done by by the mortgage company to ensure that property is worth the amount you
  • as a buyer getting for.