Nassau & Suffolk County Home Loan Brokers

Long Island Home Loan Brokers

How to Qualify for a Home Loan

If you’re looking to buy a house, you will need a home loan to start you off.  A Long Island home loan expert can benefit you when purchasing a property. There are a couple steps you need to do in order to make sure that you are qualified for a home loan. You don’t want anything standing in your way to buy a house.

Good Credit

You have to have good credit to buy a home. The bank or the person you’re buying the house from will want to know that you can afford the house and make the payments. If you are buying a house with another person such as a spouse or significant other, one of you has to have good credit. You can check by filling out some information to see what your credit score is. The bank may also run a credit check on you before they qualify you for a home loan.

Nassau & Suffolk County Home Loan Experts

Long Island Home Loans Specialist

Good Past History

To qualify for a home loan, you have to have good past history. If you have lived at other places before, you would have had to pay all your payments on time. This includes apartments or houses. This also means that you can’t have bankruptcy on a previous address. When you fill out an application for a loan, it will ask you to list the places you have lived at in the past five years. You also can’t have any outstanding loan payments.

As long as you have good credit, stable income and good past history, you should be able to qualify for a home loan. Don’t forget to double and triple check your information to make sure everything is correct. It’s important to be honest with your past history and your credit report. Please consult with a Nassau or Suffolk County home loan experts for more advice.

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