Mortgage Application Credit Official

Through their journey, they learned that a mortgage isn't just about how much you earn, but how you’ve handled credit in the past. 1. The Tale of the Two Scores

To get past the gatekeeper, the couple had to prove they were reliable through the :

One week before closing, David almost bought a new leather sofa on credit. Luckily, their loan officer stopped him. mortgage application credit

Their ability to repay based on income and employment history.

Their track record of paying back debts like car loans and credit cards. 3. The Underwriter’s Investigation Through their journey, they learned that a mortgage

The blue-door cottage itself, which the bank appraised to ensure it was worth the loan.

They looked at the ratio to ensure Sarah and David weren't borrowing more than they could comfortably afford. 4. The Final "Don't" Luckily, their loan officer stopped him

Sarah and David were surprised to find that lenders didn’t just look at one number. They looked at their across multiple bureaus.