With post-crisis credit still tight, you'll need to work harder to demonstrate you can handle a mortgage. Jump through these 5 hoops to prove you're worthy.
You might be tempted by talk of rock-bottom mortgage rates to buy your first home this year or to move up from your current house.
But getting a mortgage is tougher than it was just a few years ago.
Lenders are pickier about all facets of the process, including:
- Your credit scores.
- The size of your down payment.
- Your income and how steady it is.
- Your other debts.
- The value of the property versus how much you want to borrow.