When applying for a mortgage, the lender you have chosen will take many factors into account. These factors not only influence what type of loans you can qualify for but also what your monthly payments will be and how many years you will take to pay the loan off completely.
Knowing these factors and doing what you can to improve them all can make a tremendous difference when you go and see your lender and start the process that will get youyour new property.
Some of the basic factors apply for just about any loan but are especially important if you are trying to get a
mortgage. The big one is, yep, credit.
