zuzupot zuzupot
Social Media Manager, Public Speaker, and Life Coach in canada
Most people have no idea if they qualify for a home loan, which usually leads to some nasty surprises when submitting a home loan application and getting declined. This usually happens after people have found a home they want and are trying to sort out their finance, only to face rejection.
But enough ‘doom and gloom’ and lets find out how to have the perfect home loan application so that the banks give you that ‘approved stamp’. The easiest way is to break it down into the different categories that are reviewed:
Applicants
Make sure that you show exactly how many people are going to be living in the home. Even if you are a family with only one person making an income you still need to put yourself, your partner and any children you have on the application. The reason for this is that the banks have a cost per adult/child that they account for on your application and you need to be able to afford this, which leads to the next category of income.