A lender will want to know whether you plan to use the home as a primary residence or investment property, which can affect loan terms.
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As you prepare your offer, make sure
you factor in these budget considerations for homeowners.
Your lender will likely check your employment status and employment history, as well as your tax returns, to verify income.
In addition to your income, do you have savings, retirement or other assets you could potentially lean on if you were to run into financial trouble?
Your credit history determines how much of a risk you may be to a lender. A higher credit score may lead to more lender options and lower interest rates.
How much you plan to put down on the home reflects your investment in the property, and a lender will consider this number alongside other factors.
Income
Property type
Assets
Credit score & history
Down payment
Income
Assets
Credit score & history
Down payment
Property type
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