The best of refinance rates
Working at the same firm for a reasonable period or working at the same type of job will greatly increase your chances of being approved for the loan. Another factor that will come into play is your income and how it compares to your current debts, including your planned mortgage payments every month. This factor is also known as the debt to income ratio. In order to be approved for the home loan, you must prove that you are able to manage all of these expenses. If the lender feels that your debts may be too high compared to your monthly income, you may still qualify for a home loan, but you may have to increase your down payment to lower to the total amount borrowed.