Applying for a mortgage? Here's what the lender wants

While you aren't guaranteed a home loan any more than you are guaranteed a job, you can improve your chances -- and ease the pain -- if you understand four basic principles lenders follow when you apply for a home loan.

by Broderick Perkins
© 2011 DeadlineNews.Com

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Deadline Newsroom - Landing a mortgage in today's tight credit market can be as tough as trying to find a job in today's economy.

That's no joke.

One in five homebuyers said waiting to hear if they were approved for a mortgage was more stressful than waiting to hear if they got a job, according to a MortgageMatch.com survey earlier this year.

While you aren't guaranteed a home loan any more than you are guaranteed a job, you can improve your chances -- and ease the pain -- if you understand four basic principles lenders follow when you apply for a home loan.

Credit score, down payment, loan-to-value (LTV) ratio and debt-to-Income (DTI) ratio.

Get the full story here: "Four Keys to Getting a Loan Today"

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Broderick Perkins, an award-winning consumer journalist, parlayed 30 years of old-school journalism into a digital real estate news service, the San Jose, CA-based DeadlineNews Group, including DeadlineNews.Com, a real estate news and consulting service and Web site, and the Deadline Newsroom, DeadlineNews.Com's news back shop.

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