home > home mortgages > FAQs > general > get qualification

How do I get home mortgage loan qualification?

With The Mortgage Store Online, you need at least one of the following:

• Down payment to get home mortgage loan qualification
• Verifiable income to get home mortgage loan qualification
• Good credit to get home mortgage loan qualification
• Equity in property to get home mortgage loan qualification

Down payment to get home mortgage loan qualification

With The Mortgage Store Online, you can make a down payment to get home mortgage loan qualification. A down payment is a sum of money: a percentage of your property's purchase price that you pay right away when you get a home mortgage loan.

How does a down payment get you home mortgage loan qualification? When you make a down payment of 5% or more of your home property's purchase price, it gives The Mortgage Store Online's mortgage loan lenders some security in their mortgage loan lending with you. And when you give The Mortgage Store Online's lenders security in their lending, they'll usually have no problem lending money for you to get a home mortgage loan.

Using a down payment to get mortgage loan qualification is a delightful way to go. Why? You'll save money! If you make a down payment, you can have a smaller principal (a borrowed amount) than you would if you didn't make a down payment. And a smaller principal means there's less of a borrowed amount for you to be charged interest on. So your cost in interest will be waaay lower than if you didn't make a down payment which means you'll be saving money.

Get home mortgage loan qualification. Fill out the home mortgage loan application.

Verifiable income to get home mortgage loan qualification

With The Mortgage Store Online, you can use your verifiable income to get home mortgage loan qualification. Having verifiable income is when you have steady, provable income like employment or investment income.

How does verifiable income get you home mortgage loan qualification? The Mortgage Store Online's mortgage loan lenders need to know you can pay back the financing they lend you for your home or multi-residential property. When you can show them you have verifiable income they'll know you can pay them back and will be willing to lend for you to get a home mortgage loan.

Using your verifiable income to get mortgage loan qualification is a very invigorating way to go. Why? You can lower your cost of getting a home mortgage loan! If you can show you have verifiable income, you can get away with making a small down payment or none at all. And if you only have to make a low down payment or none at all it can be really low cost for you to get a home mortgage loan.

Get home mortgage loan qualification. Fill out the home mortgage application.

Good credit to get home mortgage loan qualification

With The Mortgage Store Online, you can use your good credit to get home mortgage loan qualification. Good credit is when you have a credit score over 680 points (the brokers here can look up your credit score for you).

How does good credit get you home mortgage loan qualification? The Mortgage Store Online's mortgage loan lenders need to know you can pay back the financing they lend you for your home or multi-residential property. When you can show them you have good credit they'll know you can pay them back and will be willing to lend for you to get a home mortgage loan.

Using your good credit to get mortgage loan qualification is a great way to go. Why? You can lower your cost of getting a home mortgage loan! If you can show you have good credit, you can get away with making a small down payment or none at all. And if you only have to make a low down payment or none at all it can be really low cost for you to get a home mortgage loan.

And if you use your good credit to get mortgage loan qualification you can also get away with not showing your income. If you're self-employed, make inconsistent income or haven't been in an employment position that long, not having to show your income to get a mortgage loan can be a relief!

Get home mortgage loan qualification. Fill out the home mortgage application.

Equity in property to get home mortgage loan qualification

With The Mortgage Store Online, you can use your equity in property to get home mortgage loan qualification. What's equity in property? It's when you have money invested in a property, whether you completely own it or have a mortgage loan on it that's somewhat paid off.

How does equity in property get you home mortgage loan qualification?

If you have equity in property by completely owning a property, you can use it to give The Mortgage Store Online's mortgage loan lenders some security in their mortgage loan lending with you. And when you give lenders security in their lending, they'll usually have no problem lending money for you to get a home mortgage loan.

If you have equity in property by having a partially paid off mortgage loan on that property, you can get cash out of that property to use as a down payment for your home mortgage loan. A down payment is a sum of money: a percentage of your property's purchase price that you pay right away when you get a home mortgage loan. When you make a down payment of 5% or more of your home property's purchase price, it gives The Mortgage Store Online's mortgage loan lenders some security in their mortgage loan lending with you. And when you give lenders security in their lending, they'll usually have no problem lending money for you to get a home mortgage loan.

And if you use your equity in property to get mortgage loan qualification you can get away with not showing you have verifiable income. If you're self-employed, make inconsistent income or haven't been in an employment position that long, not having to show you have your income to get a mortgage loan can be enlightening!

Get home mortgage loan qualification. Fill out the home mortgage application.

Find out more about these home mortgage loan faqs topics, by contacting The Mortgage Store Online's brokers. Just use the contact form or call them at 1-866-880-2577.

<< return to general mortgage faqs