Increase Your Chances Of Getting A Home Loan
Here are a few steps to help you improve the odds of qualifying for a home nortgage
1. Order a copy of your credit report and review it for inaccuracies. Lenders will use your FICO score
during the approval...
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Increase Your Chances Of Getting A Home Loan
Here are a few steps to help you improve the odds of qualifying for a home nortgage
1. Order a copy of your credit report and review it for inaccuracies. Lenders will use your FICO score
during the approval process and the score is based on your credit history. Start making sure your credit is
in order long before you apply. Take a look at the report and make sure the personal information is
correct. Review the account history section for inaccuracies.
2. Make sure that your debt and income ratio is balanced. Many lenders will also consider your debt to
income ratio; a high ratio of debt means more risk to the lender due to a higher number of financial
obligations. To lower your debt ratio simply pay off any revolving lines of credits or loans to a reasonable
level.
3. Try applying at a different lender if you've been denied. There are many smaller local and regional
lenders who offer loans. Try not to apply to a large number of lenders at o
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