These factors are beyond the borrower’s control, so it is important to identify what other factors can be addressed. For instance, according to a Yahoo! Homes article, the ability to maintain a debt-to-income ratio (i.e. the portion of one’s monthly income allocated to debt payments) of 43 percent or lower is a step in the right direction. This figure assures the lender that the borrower is indeed capable of making monthly payments on time.
In addition, a borrower with a stable employment history of at least two years within the same industry stands a better chance of qualifying for a good loan, but the Credit Score is the most influential factor in getting a lower rate. As such, any prospective home buyer should consider these factors and get a good grip of their financial situation beforehand. This is where a reputable Roseville mortgage broker like Iron Point Mortgage can help.
http://ironpointmortgage.com/principal-factors-that-affect-roseville-home-mortgage-interest-rates/
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