According to recent consumer survey, two-thirds of potential homebuyers believe it would be difficult to get a mortgage approved today.
But – they’re only really three things mortgage lenders look for from today’s home buyers.
First: history of paying person bills mostly on time. Second: job-related income that gets reported to the IRS, and Last: a credit reading that’s at least semi decent sure. You can show other qualifications to a lender, but this is the minimum in most cases.
To buy a house and get a loan, you don’t always need to have money saved up to make a down payment. You don’t need to have very high income or have your student loans paid off. You don’t even have to have perfect credit.
Mortgage lending is forgiving for buyers who meet the minimum thresholds. Heck you don’t even need to pay for your real estate agent and their time – the seller side pays for that.
So what’s stopping you? Let us know in the chat box below because we’re here to help you along.
Are you a first time home buyer?
Let us know if you’ve done this before - whether you’re a seasoned pro or buying for the first time. We’ll share the perfect information with you as you need it.
Home sales activity plunged in April, but U.S. home sale prices continue to climb.