Getting Approved For A Home Loan

Getting approved for a home loan can actually be quite complicated. Even though you might make good money, have good credit, and have a good chunk of cash in reserves in the bank, you still might not meat a loan underwriters criteria for financing.

All home loans are different, and each lender has different criteria. For the underwriters, the criteria is pretty black and white. You either meet it or you don't. It doesn't matter that your income could qualify you for a home twice as expensive.

In general, there are a few criteria that are pretty standard throughout the mortgage lending world: