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.
Are You Buying a Home in Aspen or the Surrounding Communities?
We’d love to help you find your dream home here. Call us at 970-429-8275 or contact us online to let us know what you’re looking for so we can start searching right away.
While you’re here you can also browse our:
- Aspen real estate listings
- Basalt real estate listings
- Carbondale real estate listings
- Snowmass real estate listings
- Woody Creek real estate listings
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