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How does a lender decide the maximun amount for a loan to buy a house?


Asked by Anonymous at 8:01 PM on Jul. 17, 2009 in Politics & Current Events

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Answers (2)
  • And-they want to know how much cash you have in the bank that you are ready to put down-that makes a BIG difference these days. My brother and his fiance have some serious, serious cash to put down and when they went in-they realized that they were able to get a better deal that what they had thought simply for having a LARGE down payment.

    Answer by Anonymous at 8:12 PM on Jul. 17, 2009

  • Several factors are taken into consideration.

    Credit Score
    Debt Ratio-how much debt you have compared to how much you make
    Value of the home in consideration

    Answer by yourspecialkid at 8:09 PM on Jul. 17, 2009