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Today, we're excited to have our friend Todd Sevier of ResMac Home Loans join us today to discuss the current state of the mortgage market.
The first thing people ask when it
comes to buying a new home is how much they can actually afford. The primary things lenders are looking at are credit, income, and assets. An ideal credit score would be above 600, and the lender will also check to ensure you haven't had any foreclosures or bankruptcies in the recent past.
When looking at income, they will check to ensure you have a stable job and are current with all your payments. Also, your lender will check to make sure you have the available assets to put forward as a down payment if you are able to obtain the loan.
If you would like additional information about the mortgage market here in Charleston, or if you would like real estate assistance of any kind, don't hesitate to reach out to us! If you would like to reach Todd directly, you can call him at (843) 408-0856 or email him at Todd@scmtgpro.com. We would love to hear from you!
The first thing people ask when it
comes to buying a new home is how much they can actually afford. The primary things lenders are looking at are credit, income, and assets. An ideal credit score would be above 600, and the lender will also check to ensure you haven't had any foreclosures or bankruptcies in the recent past. When looking at income, they will check to ensure you have a stable job and are current with all your payments. Also, your lender will check to make sure you have the available assets to put forward as a down payment if you are able to obtain the loan.
If you would like additional information about the mortgage market here in Charleston, or if you would like real estate assistance of any kind, don't hesitate to reach out to us! If you would like to reach Todd directly, you can call him at (843) 408-0856 or email him at Todd@scmtgpro.com. We would love to hear from you!
