What Bad Credit Mortgage Lender Wants to Know?

As mentioned above, mortgage lenders are risking when they’re dealing with people with bad credit. That’s why you should provide your mortgage lender with complete information about your financial situation. If you’ll be hiding important information, then a lender won’t trust you anymore and won’t give you a mortgage approval.

So before giving you a mortgage, a lender will probably look at these things first:

• Mortgage Lender Will Check Monthly Debt Payments
• A Lender Will Want to Know Your Income levels
• How Much Money You Have Saved
• Type of Mortgage You are Considering to Get
• On-time Payment of Rent and Utilities
• Type and Value of the Property You Want to Get
• They’ll Want to See if Your Income is Stable or Not
• They Might Check Your Employment History
• Amount of the Down Payment You Plan to Make

These are the things you should be prepared to show your mortgage lender. Remember that if you are going to hide the important information, then they still might find out and not approve your mortgage. Simply be open and give them what they want as long as they’re doing a favor to you in the first place.