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If you are planning to purchase real estate, you will need to apply for a mortgage. Applying for a mortgage , however, is not as easy as getting a credit card or a personal loan. This loan involves a great amount of money; thus, you will be undertaking a very huge investment. For this reason, you must educate yourself about the factors that might affect your mortgage application and approval. If your application is denied, you might need to kiss your dream house goodbye. There are various factors that might affect your mortgage application. For instance, lenders are more likely to approve an application from someone who is credit worthy, and has the ability to repay the debt. If you are applying for a mortgage, you must consider these factors to ensure loan approval. Credit Report Credit is a crucial factor considered by many lenders. This basically means that you must have a good credit score to qualify for a mortgage. If you have a bad score, you will only have sub-prime options whic...
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