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Posted on November 30, 1999 by Joy Stoyle | Posted under Mortgage Refinance
Louisville Mortgage - Consultation for Smart Borrowing
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• Income - Of course, the first thing that Louisville Mortgage will look at is the total household income of the potential borrower. After finding out what the total household income is, they will then dig a little deeper. What are the long term income prospects? If it is a couple or a family applying for a mortgage loan, will both parties continue to work throughout the length of the mortgage loan? Could the payments still be made if one of the parties stopped working? These are the things that need to be addressed in order to make sure that the borrowers will not find themselves in over their heads. • Credit - With any type of loan, the borrower's credit needs to be looked at. There are certain credit guidelines that Louisville Mortgage will adhere to when checking a potential borrower's credit. There is, of course, a bottom line when it comes to the credit history. If a borrower's credit history and score are too low, they won't get the loan. It doesn't have to stop there, though. A financial consultant can work with a potential borrower to tell them how to improve their credit in the shortest amount of time so that they can qualify for a loan in the future. • Loan amounts - Financial consultants at Louisville Mortgage will work with potential borrowers to help them set limits on how much they can borrow for a home. They will show in detail why these parameters are best for their clients. Louisville Mortgage stays in business by not only loaning money, but helping their customers borrow money wisely. This helps the mortgage company, the customer, and the community. About The Author: |
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