Mortgage Approval Process

Whether you're a First-Time Home Buyer or seasoned investor, the mortgage approval process can be a slightly overwhelming adventure without a proper road map and good team in your corner. Updated program guidelines, mortgage rate questions and down payment requirements are a few of the components you'll need to be aware of when getting mortgage financing for a purchase or refinance. While this site is full of useful information, industry terms and calculators that will help you research the mortgage approval process in detail, this particular page was designed to give you a thorough outline of the important components involved in getting qualified for a new mortgage loan. Mortgage Approval Components: Mortgage lenders approve borrowers for a loan, which is secured by real estate, based on a standard set of guidelines that are generally determined by the type of loan program. The following bullets are the main components of a mortgage approval: Debt-To-Income (DTI) Ratio - A borrow ... Read More...