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The
decision to purchase a new home can
be very exciting and grueling at the
same time. When applying for a new
home loan, remember that you do not
necessarily have to have the house
picked out to begin the process.
When applying for a new mortgage
loan, the lender is generally
looking for two main factors:
Your ability to repay the loan
and
your willingness to repay the loan.
Below
is some of the information lenders
look for when approving a new
mortgage loan.
Your ability to repay is
based on the following:
 |
Your employment income - how
much you make at your current
job. |
|
Your employment history -
generally mortgage companies
prefer that you have been
employed at the same place for
at least 2 years. |
Your willingness to repay is
based on the following:
|
How will the property be used? -
will you be occupying the house
or will you be renting it out as
an investment for additional
income? |
|
Your credit history - How
current are you on all of your
monthly payments and do you have
any other outstanding debt? |
Apply today, one simple, no cost, no
obligation form to receive multiple
competing quotes. What could be
easier?
New Alliance Mortgage
strives to make
the mortgage loan process
convenient, easy and of course free,
while saving you time, money and
aggravation. Apply today and see! |
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