Financing in Austin>Question Details

Trulia Austin, Home Buyer in Austin, TX

Which factors do mortgage lenders consider, other than one's credit score?

Asked by Trulia Austin, Austin, TX Fri Dec 14, 2012

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Most lenders are going to look at your credit score and debt to income ratio. Call a few lenders and see who you "click" with. Try a local lender I have had the best luck with them. If you want names and numbers give me a call.
0 votes Thank Flag Link Thu Dec 20, 2012
You've gotten some excellent specific points below in the comments from other area pros. I would suggest that given the complexity and individuality of each person situation, that you contact a local mortgage pro with a proven track record.

My clients generally work with Matt Dean from Security National Mortgage in Lakeway.

Matt Dean
0 votes Thank Flag Link Mon Dec 17, 2012
John is right.... Debt/Income ratios are a big factor.

Length of time on the job.
Cash reserves.... 401k or savings, ect
Down payment.
Types of credit.
Age of credit lines.
Number of credit lines
Types of credit lines

Do you have a specific question about a certain factor that you think might be deficient?

Tom Burris
Mortgage Banker
(214) 763-4629 cell/text/nights/weekends(Really!!)
Lending all across the entire Great State of Texas!!
NMLS# 335055
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0 votes Thank Flag Link Fri Dec 14, 2012
Debt and income, primarily. Lots of nuance involved in the process lenders want to know you can pay the loan back and the discovery process is thorough. Talk to one - they don't bite and will help you determine if buying is an option.
0 votes Thank Flag Link Fri Dec 14, 2012
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