Will I Be Able to Get a mortgage?

Lenders want to extend loans, it’s how they make money and stay in business. However, they want to be relatively certain they will get their money back.

They look at three aspects before they lend:

• ABILITY TO PAY
• WILLINGNESS TO PAY
• JOB STABILITY

Ability to pay ties in with how much of a monthly payment the family can handle.

Willingness to pay relates directly to your current credit history. Do you owe too much? Do you skip payments or pay too slowly? Have you failed to establish a credit record? If the answer to any of these questions is yes, you may not qualify for a mortgage.

Employment is another factor considered by lenders. The borrowers must have jobs and have been in them, or a similar field, for at least the last 2 years.