Tag: mortgage application

Your mortgage application was denied. Now what?

If your mortgage application has been denied, you don’t have to give up on your home ownership dreams. There are steps you can take to improve your ability to get approved for a loan. First, it is crucial to get in contact with your lender. There are a multitude of reasons as to why an …

by bmadmin

When lenders evaluate mortgage borrowers, we look at four things: income (the ability to repay), credit (the willingness to repay), collateral (appraised value and property condition) and assets (cash in the deal and cash reserves after closing, mostly). Of the “four legs of the table”, assets are the least discussed, and yet may be the …