A Home of Your Own
Qualifying for a mortgage
Steps you can take to help qualify for a mortgage
- Determine the estimated value of the home you would like to
purchase.
- Obtain funds for a down payment from savings or through gifts
or loans from family members.
- Reduce other debts or improve your credit record, if necessary.
- Compare fees, services, and mortgage rates for different lenders.
- Prepare the mortgage application.
Your mortgage acceptance will be based on your credit record. The
amount of the mortgage for which you qualify will be influenced
by your income, the amount available for a down payment and current
mortgage rates.
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