On the 4th day of tips, bits & lists, we're focused on the 4 Cs. You're probably thinking diamonds, but actually we're talking about the 4 Cs of qualifying for a mortgage.
If you'd like to buy a home but you're not sure what mortgage lenders look for in a borrower or whether you could qualify, understanding the 4 Cs is a good place to start:
What about the down payment? Lenders also take that into consideration. Although 20% is something of a magic number, many homebuyers put down much less. Freddie Mac's Home Possible Advantage Mortgage®, for example, is available to qualified borrowers with as little as 3% down.
Read other posts in this series and stay tuned for the next 8 days of tips, bits & lists.
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