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apply for mortage loan

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priyaforum Joined: 21 Jul 2009 Posts: 26 3.34 Dollars($)	Posted: Tue Jul 21, 2009 8:52 am    Post subject: apply for mortage loan Like 0 Dislike 0 Hi, I want to apply for mortage loan. so le me know how ican apply for loan?? I have old home but his situation is not good so can get good mortage loan?? Which factors are depend for mortage loan?? Thanks
timcrouchman Joined: 20 Jul 2009 Posts: 52 0.00 Dollars($)	Posted: Tue Jul 21, 2009 9:14 am    Post subject: Like 0 Dislike 0 Major factors affecting mortgage rates include: • Amount of down payment on mortgage • Consideration of closing costs • Income of mortgage borrower • Life of mortgage loan • Life of mortgage rate • Total mortgage loan amount • Whether or not the mortgage rate is adjustable • Discount pts paid • Credit quality and debt-to-income-ratio
JKennedySLG Community Expert Joined: 01 Apr 2009 Posts: 408 Location: New Jersey/New York 20.05 Dollars($)	Posted: Tue Jul 21, 2009 9:16 am    Post subject: Like 0 Dislike 0 Not quite understanding exactly what you're trying to say, but this is an excellent place to ask questions about your current situation to see if you are able to qualify for a mortgage. Mortgage loans are dependant upon your income, debts, and credit worthiness. A credit score of 620 is needed for an FHA loan. I hope this helps... _________________ James Kennedy New York/New Jersey (732)979-7409 Hard Money & Stated Income Loans First Time Home Buyers (540+ Credit)

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