Mortgage Tips: The "Three-Legged Stool"

Imagine a mortgage approval as a three-legged stool, with each leg representing a crucial element:
1) Property

2) Income

3) Credit

 

Just like a sturdy stool, all three legs need to be strong. If even one is weak, the stability of your mortgage can wobble.

 

Lenders are keen to ensure:

- The property has market value even if mortgage defaults occur. 

- Your income is reliable and well-matched with your savings. 

- Your credit history reflects responsible financial behavior, not just a high score

 

Let's discuss your mortgage journey. Reach out directly: 289-200-9061 / dbell@durhammortgage.com