Back when I bought my first property, I was working as a real estate agent in an office that owned its own mortgage company and title company. On Saturdays, a guest speaker would come in to teach us about the financing side of the business. I was very fortunate that I was exposed to the information, as it made me a better agent, and by the time I bought my first property, I already felt comfortable with the process. That said, I know that financing in real estate isn’t always easy to understand. For many first-time home buyers, the process of qualifying for a mortgage can be confusing and intimidating.
So, what is the bank really looking for? How do you know if you’ll qualify and for how much?
Read More: https://www.biggerpockets.com/renewsblog/bank-formula/