Can I Get A Mortgage?

Since 2008, it’s become harder and harder to get a mortgage due to several factors, including increasing credit requirements, so this is a very important question to ask. The more you know about what you need to qualify for a mortgage, the more you can prepare, and the better shape you’ll be in when you apply for a loan.

Among the main topics you will need to consider when qualifying for a mortgage are:

• Credit
  • Credit Bureaus and Scoring
  • What is a FICO credit score?
  • How do I know if I have good or bad credit?
  • What do I do if my credit is poor?
  • When to see a credit counselor and what to look out for?
  • Don’t be scammed by credit repair companies

• Income
  • Do I have enough income?
  • How is the amount I can borrow calculated from my income?

• Down Payment
  • How much of a down payment will I need?

• The Home Appraisal
  • What is an appraisal?
  • What is the purpose of an appraisal?