While your credit could be an important factor in determining whether you may get authorized for home financing, it isn’t the factor that is only. In many cases, you may well be in a position to make up for having low credit ratings when you yourself have an otherwise good financial predicament.
Below are a few examples:
- A big advance payment could help you be eligible for a true mortgage which help you obtain a reduced interest rate.
- Your debt-to-income (DTI) ratio could be a factor that is important. A lowered DTI is much better when you are trying to get mortgage loan.
- Incorporating a cosigner that is creditworthy the application will help. (más…)