Ten Key Factors When Applying for a Mortgage Loan

Most 'mere mortals' don't apply for home mortgages very often. Generally, for second home buyers, you've applied for mortgages before, but it may have been years ago. Anyway, they are all a little different. Since home prices are an order (or 2 or 3) of magnitude higher than most other large purchases, they need to be approached with care. Your credit-worthiness becomes a major factor. So what are the most important factors that need to be considered before you apply for that mortgage?

I found a great article on Dun & Bradstreet's AllBusiness.com website that should help in preparing for the trip to see the mortgage banker. A few of the factors need some time to resolve if you've made a few credit maneuvers lately. Check out the article... Here.