You guys lenders have got to look at something when you are applying for pre-approval! ⬇️ 1

You guys lenders have got to look at something when you are applying for pre-approval! ⬇️ 1. They look at income to make sure you can handle the financial burden of a mortgage. They’ll want salad information along with proof so they have evidence that you earn enough to afford said mortgage. 2. Credit history will be looked across all 3 major credit bureaus (Equifax, Experian & Transunion). They’re looking at your payment history, credit lines and accounts you have open along with length of time and credit utilization. 3. Debt to income (DTI) ratios - the lenders will measure your monthly obligations (debts) to your salary. They will take in consideration the new proposed mortgage to make sure you can afford it. Having a lower DTI can qualify you for a lower interest rate saving you more money over time. Before you buy a home, pay down as much debt as possible! 4. Employment History - lenders will ensure that you have stable employment. They will verify employment length, request pay stubs and 2 years worth of W2’s. . . . . #realestate #realestatetips #realestateadvice #lending #mortgagetips #mortgage #preapproval #realtor #tiktok #trending #fy #fyp #greatlifecolorado #coloradorealtor #joebenjamin #denvercolorado #denverrealestate #eriecolorado

lenderssomethingapplying