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Mortgage Application and Approval Process


Blog by Century 21 Amos Realty | August 21st, 2015


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It is always a great idea to be preapproved before purchasing a property, especially as first time home buyer. That being said, have you ever been declined by a lender? Are you confused as to why?


Your application can be influenced by:
  • Yearly salary
  • Debt to service ratio
  • Down payment size
  • Type of home
  • Bonuses and commissions
  • Net worth
  • Credit History
There are many steps involved, financial influencers and people you can go to for help. Below is a great article on the application and approval process, it will give you a better insight on what determines yes and no.

http://www.canadamortgages.net/mortgage-approval-info.php

If you have additional questions or would like a contact to determine you preapproval price range you can contact Sara at sara.amos@century21amosrealty.com