What Do Lenders Look At When You Buy a House?

Published On: December 13th, 2017|Categories: Blog, Buying|Tags: Buying a Home, Financing|

When you buy a new home in Aspen, you’re most likely going to need financing – and that means your lender is going to look at your entire financial profile before deciding whether to give you a loan.

What Do Lenders Look at When They’re Considering You for a Loan?

Lenders look at your credit score (more specifically, your FICO score), but they want to see your overall financial health – even if you have a great credit score. Here’s a list of what they’ll look at:

Bank statements
Pay stubs
Income tax returns
Current loans
Current loan status
Child support
Monetary gifts you’ve received or given
Spousal support
Other financial obligations

Many lenders look at even more than this; this is a bare minimum. What they’re trying to determine is whether you have enough money left at the end of each month to repay them.

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