Lending Star Capital

Whether buying a property or refinancing, knowing if you are qualified for a new mortgage is critical, which will save time and minimize unnecessary loss.

First step to know if you are qualified for a new mortgage is to get to know your credit score and history. A minimum credit score is applied for each loan program provided by different lender.

The basic criterion is debts to income ratio. Please check the following to determine your monthly debts:

Current house expenses, including mortgage payment, property tax, home insurance, and HOA fee
Investment property expenses and rent incomes
Additional liabilities such as auto loan, student loan, personal loan, home equity loan, and credit card minimum payments
Child support and alimony paid by you.
Any other revolving debt

Income can be from the following source, but not limited to:

W2 income including base income, bonus, over time and commission (before tax, subject to lender requirement)
Business income (must meet minimum history requirement)
Income from investment properties (must meet minimum history requirement)
SSN award and other type of retirement income
Child support and alimony received

The third fact that affects loan qualification is assets required for closing and reserves. Sufficient assets must be verified by lender. Funds to be paid at closing must be liquid assets (from checking, saving, CD accounts etc.). Funds used for reserves can be from investment accounts, retirement accounts, life insurance or other non-liquid assets. Non-payroll deposits exceeding certain limits will required to provide documents to evidence source of fund.

Lenders and investors have detailed and precise guidelines to define borrower qualification for mortgage. To confirm your qualification and obtain pre-qualification letter, please contact us now.

Select Loan Type

Home Refinance

Home Purchase

Please give us more info.

Kindly provide your date of birth so our mortgage brokers can verify your identity when they contact you. Thank you for your cooperation.

By providing your SSN, our brokers will know you're sincere about obtaining a loan. You will get better rates & terms, and your credit will never be affected.

Submit

Select Property Type