Assisting with Loan Applications

The borrowers credit score is crucial as it determines their eligibility for the loan. A good credit score (700 and above) increases their chances of approval.

The purpose may be for buying a new house, refinancing an existing mortgage or making home improvements. This helps in determining the right type of loan for them.

This information helps determine their ability to repay the loan by assessing if they have a stable income source, adequate assets, and manageable amount of debt.

This affects both the interest rate and terms of the loan. A larger down payment usually leads to more favorable terms.

Interest rates and requirements often differ between loans for primary residences versus investment properties. Loans for investment properties tend to have higher interest rates and require larger down payments.