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    re prequalified for. This is not a loan approval - merely stating that you currently satisfy lending criteria to get a loan. Your situation may change or the lender may change its lending criteria, so even a "pre-approv
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    There are thousands of mortgage lenders today. Some of them provide a wide range of mortgage loans, while others focus on narrow niches.

    All of these lenders look at your mortgage application and may analyze:

    • your credit
    • work history
    • employment status
    • assets
    • tax records
    • bank statements
    You can get 100% financing even without having great credit. There are many loan programs for borrowers with credit scores of less than 700.

    You should be able to get a sense for how much you can borrow by getting a free prequalification. This is a free service that many mortgage lenders and brokers will provide to potential borrowers. It is to let you know if you qualify for a loan at a certain amount. They may even supply you with a "prequalification letter" stating what loan size and type you are prequalified for. This is not a loan approval - merely stating that you currently satisfy lending criteria to get a loan. Your situation may change or the lender may change its lending criteria, so even a "pre-approva

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    • your credit
    • work history
    • employment status
    • assets
    • tax records
    • bank statements
    You can get 100% financing even without having great credit. There are many loan programs for borrowers with credit scores of less than 700.

    You should be able to get a sense for how much you can borrow by getting a free prequalification. This is a free service that many mortgage lenders and brokers will provide to potential borrowers. It is to let you know if you qualify for a loan at a certain amount. They may even supply you with a "prequalification letter" stating what loan size and type you are prequalified for. This is not a loan approval - merely stating that you currently satisfy lending criteria to get a loan. Your situation may change or the lender may change its lending criteria, so even a "pre-approv

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    You should be able to get a sense for how much you can borrow by getting a free prequalification. This is a free service that many mortgage lenders and brokers will provide to potential borrowers. It is to let you know if you qualify for a loan at a certain amount. They may even supply you with a "prequalification letter" stating what loan size and type you are prequalified for. This is not a loan approval - merely stating that you currently satisfy lending criteria to get a loan. Your situation may change or the lender may change its lending criteria, so even a "pre-approv

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    nders and brokers will provide to potential borrowers. It is to let you know if you qualify for a loan at a certain amount. They may even supply you with a "prequalification letter" stating what loan size and type you are prequalified for. This is not a loan approval - merely stating that you currently satisfy lending criteria to get a loan. Your situation may change or the lender may change its lending criteria, so even a "pre-approv
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    re prequalified for. This is not a loan approval - merely stating that you currently satisfy lending criteria to get a loan. Your situation may change or the lender may change its lending criteria, so even a "pre-approval" will come with conditions.

    What To Ask Yourself

    You should be able to get a good estimate for what your interest rate will be for the loan size you are looking for.

    You then need to evaluate if this payment will reasonably fit into your monthly budget.

    Generally speaking a mortgage payment should not be more than one third of your pretax income. This is to leave you with money to pay your taxes, car payments, credit cards, and other bills.

    You need to also ask yourself if your current income is predictable. If you just started your own business you may not be sure what level of income you will have. If you've had the same job for a while and are reasonably sure you will keep it then a mortgage payment may be something you are more comfortable with.

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