Loan eligibility factors
Each lender has their own criterian for determining your eligibility for a loan. On average, here's what all lender's use to determine your eligibilty for a mortgage loan.
70% Fico Score - Lenders factor in all three FICO scores as reported by the three major credit agencies: Equifax, Experion, and Trans Union.
20% Verifiable Income. Your tax form is used to generate a verified income for two years prior.
10% Credit History. Of course this is wrapped up in your FICO score too.
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