The Bottom Line About Lenders?

Lenders know that every borrower is different, and no lender expects you to be perfect. Their job is to lend money, so if they can make a home mortgage loan work for you, they will.

When NOT To Buy

There are times when you should just walk away.

If you've had some past financial problems, it's not the end of the road; you just need to fix them before you try to purchase a home. Even if you've gone through bankruptcy, all you need is time to handle your debts and repair your credit history. It may take a year or two to fine-tune your financial profile, but it's well worth it.

Perhaps your credit picture is not as black as the bankruptcy scenario but not picture perfect, either.

How much can you qualify for? With stable employment and income, you should be able to qualify for a mortgage loan worth almost twice your annual income. By taking time to improve your credit rating, you could raise that figure substantially.

Let's Look at Some Real Numbers

The next section will look at some of your hard numbers to help you decide where you fit in the whole picture....keeping the sharp eyes of the lenders in mind.

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