When applying for a mortgage, your application will be reviewed for the three C’s –credit history, character, and capacity for handling debt.
Your credit history is a reflection of your past loan and bill payment behavior. This includes information on late payments, current debts, and loans still outstanding. Your credit history will also show what loans you have paid off, your existing open credit accounts, and if you have declared bankruptcy in the past seven to ten years. Your character includes information about your job history, current employment, and other personal factors that may affect your ability to make mortgage payments such as dependents and marital status. Your capacity for additional debt is estimated by reviewing your current income and debt management. Also, your expected future income and debts will be reviewed at this time.
For more information, please use the below form to contact me
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