04/29/2026
I can empathize with those who feel like getting a Mortgage feels super stressful and confusing. Today I want to break down exactly what most lenders are looking for in order to approve you for a mortgage. While every single file is different, and certainly not all files are this simple, it still usually comes down to these four things. If you’re planning on buying in the next few months, this is what’s being measured:
1. Your Income
Whether you’re salary, hourly, or self-employed, the bank sees you differently. My job is to package and present your specific situation so they see the stability they’re looking for.
2. Your credit
It’s your financial report card! How you repay credit is a big sign to lenders that you are a "good borrower". If you have bruised credit, this simply means we need to approach a lender a little bit differently, chat a bit more, and find a solution.
3. Debt Ratios
Lenders are always focused on your debt-to-income ratio. Car payments, student loans, and credit card minimums all shrink your buying power. If the debt is too heavy, the amount you qualify for will shrink. PRO TIP: If your priority is to buy a house, let's get that done before you take on a car payment. This will directly shrink your borrowing power. (I can attest to this because I myself just bought a home while still driving my 09' honda civic lol)
4. Your Downpayment
Whether it’s an FHSA (HIGHLY RECOMMEND!!), personal savings, or a gift from family, the banks need a clear paper trail. I’m pretty great at organizing all of this, but it's always best practice not to move your down payment funds around alot during this time, or the paperwork can be extensive.
Moral of the story?
Rates move and the world is unpredictable, but these four things are always the baseline when looking for an approval.
The best part about being a Mortgage agent apart from a bank is that I’m not stuck with one bank’s rigid checklist. I have access to all of the major lenders and custom solutions to find the one that actually fits your life. shoot me a DM if you want to see where you stand. 🙂🏡
