How to Get Your Home Loan Mortgage approved fast

Author: Anish Sapra

Ever noticed how some people get their loans approved in a jiffy while others struggle to get one in despair. So, what is it that makes them differ? How does a lender evaluate us?

In reality, getting your home loan mortgage approved and that too at a good speed depends on whether your background matches the list of criteria set forth by the lender or not. Even though these rules are not so hard and fast, your loan officer will not stray too far away from the guidelines he has been relegated with.

If you are a novice to the property market who is applying for a

FIRST TIME HOME BUYER MORTGAGE , then you must acquaint yourself with these guidelines.

Loan officers have a scoring strategy for aspects on your background that they are evaluating us for. Any borrower will be scrutinized on the following:

* Employment History An individual should have been in employment for not less than two consecutive years inside the same industry. Creditors look for stability and consistency as best they can and your employment history is a good criterion for them to evaluate your capability to generate income to finance your mortgage.

* Credit History Credit scores are the most important aspect that determines your financial future. Carrying a good credit score is an asset and paves your future towards greener pastures. On the other hand a negative marking on your credit report can be ruinous for your future dreams. Therefore, it would be best to clean up your credit score before applying for a loan.

* Outstanding Liabilities Your income states the amount of liabilities you can support. Thus, in order to qualify for a home loan mortgage, you should reduce your outstanding liabilities to the point which is acceptable by the lender.

* Assets Another plus where you can prove to the lender as to if you can afford the mortgage is by showing the lender the amount of cash and liquid assets you possess.

* Existing Payments If you have an existing housing rental payment, there should not have been any late payments made, especially in the last 12 months. This shows your ethics and is a proof that you are responsible and would pay your payments too on time.

Other forms of payments receipt like utility bills, insurance payments and even car insurance could help you in proving you are creditworthy.

About the author: The author is a business writer specializing in finance and credit products and has written authoritative articles on the finance industry. He has done his masters in Business Administration and is currently assisting First-Mortgage-From-C4f For more information please visit at:http://www.first-mortgage-from-c4f.co.uk