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Qualifying for a Home Loan

What do banks look at? According to Freddie Mac, it’s the 4 C’s:

  1. Capacity:Your current and future ability to make your payments
  2. Capital or cash reserves:The money, savings and investments you have that can be sold quickly for cash
  3. Collateral:The home, or type of home, that you would like to purchase
  4. Credit:Your history of paying bills and other debts on time

Be sure you are properly qualified before you begin the process of buying or selling your home.