Equity loans A review of the facts
Basically, the qualification process determines if the lender is willing to lend to you and the amount of money you can borrow. By understanding the process, you will be in a better position to qualify for the amount you need for your home loan. WHAT DO LENDERS WANT TO SEE? The lender uses several measures to determine your ability to repay the home loan you are requesting. First, they will want to know that your employment history is stable. Have you worked for the same employer for two years or more? If not, how long did you work for your previous employer? Have you recently changed jobs? Did you leave because you had a better opportunity in your field or for better pay? Expect that the lender will contact your employer to confirm your history.