April 11, 2018 | Alan Donald
When you apply for a loan, your lender will look at several things:

- Your down payment amount,
- How long you have been employed in your current position,
- Whether you have the funds on deposit for your down payment and closing costs,
- Your income-to-debt ratio and,
- Your credit report.

Lenders place much more emphasis on the credit report than they used to. Credit bureaus compile a record of debts from credit card companies, banks, department stores, and other firms. This information appears on your credit report, and shows whether you pay your bills on time. The higher your credit score, the more flexible lenders can be in the loan approval process.

When you meet with lenders, ask how they decide if you are a good credit risk. It is likely to be from a credit report. Lenders can order the credit report for you and discuss your score. If your credit is less than ideal, they can usually offer suggestions on how to strengthen your credit position.

Please feel free to call or email me if you have any questions or would like additional information on financing.
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