How to Get Approved for a Mortgage

 In Qualifying for a Mortgage

Confused by all the things you see and hear about getting approved for a mortgage?  If you are, you are not alone.  Most people really don’t know what it takes to get approved for a mortgage, but it’s not as complicated as you might think.

Here’s what you need to know about getting approved for a mortgage.

Three Things

There are three things a lender looks at when you apply for a mortgage: credit, income, and assets.  

If you have a history of paying your bills on time, you make enough money to pay for the mortgage and all your other debts, and you have enough money in the bank to pay for the down payment and the closing costs, you will be able to get a mortgage.  If you don’t, you won’t get approved for a mortgage.

Is it possible to figure out for yourself if your credit is sufficient, if you make enough money to satisfy the lender, and if you have enough to pay for the down payment and closing costs?  No, it is not.  No amount of “research” that you do online will tell you whether you can get a mortgage.  The only way to know is to talk to a lender.  

Keep In Mind

The important thing to keep in mind when talking to a lender is to understand that the lender wants you to get approved for a loan.  If you don’t get approved, the lender doesn’t make any money, and I don’t know any lender who likes to work for free.  

Luckily, it’s easy to start the conversation with a mortgage lender.  First, you have to find a lender who knows what they are doing.  How do you do that?  Contact us – that’s all there is to it.  

We will look at your credit, your income, and your assets and will be able to tell you with certainty whether you can get approved for a mortgage or not.  We have an online loan application that is absolutely free to use, and we can also chat with you on the phone, if you prefer.  So if you are looking to purchase a house and need to get a mortgage, or if you already have a mortgage and want to save money by refinancing your current loan, contact us today and see how easy it is to get approved for a mortgage.

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