Q: What do you look for when approving someone for a home loan?

A: We look for a number of things, starting with a good credit score. We then look at your employment history to make sure you have a steady income and are able to make your mortgage payments. We also consider your debt to income ratio. Typically, your debt should only take up 40% of your income. Our application also asks for your asset information, like any savings you may have or vehicles that you own free and clear. We like to see a pattern of saving and at least two months worth of mortgage payments in your savings account. This lets us know that you are able to cover your mortgage payment if something should change with your job or financial situation.

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