Mortgage approval 3 key steps to getting approved

March 3, 2022 in Blog, Mortgage Guide, Video Library

A Mortgage is a Real Estate loan that you need to apply for. If you’re approved for a mortgage loan, you can borrow a certain amount of money from a lender, which you’ll repay every month over a set number of years. Mortgage approval hinges on several factors:


Since you’re going to be paying your lender monthly, they want to make sure you have consistent and adequate income before loaning you a large sum of money. You will need to provide documentation such as W-2s, pay stubs, and previous federal tax returns.

Credit score

our credit score is important as it gives a lender an idea of your financial responsibility and your history of paying back debts. A credit score of 740 or above is very good and will put you in a better position to get approved. A lower score may mean a higher interest rate.

debt to income ratio

Debt-to-income ratio, also known as the DTI ratio is the calculation of your total gross monthly debts or payments divided by your total gross monthly income. The lower the number, the more likely you are to be approved and eligible for a lower interest rate. If your number is on the higher end, you can lower it by either paying off current debt or increasing your income.


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About Me

About Me

Hi I'm Monica! I'm a Real Estate professional in love with houses, especially vintage houses. I even have my Historic Homes Specialist designation. I enjoy decorating and rehabbing and helping my clients create their dream home with inexpensive updates. I also love helping sellers get top dollar for their property by taking the dated out of their home and staging in a modern simplistic way. I'm also obsessed with Mid Century furniture, so if it doesn't fit in my house, you'll find it in my Etsy Shop. I enjoy coffee and thrift store shopping to look for items to repurpose and use in house. And of course anything vintage, I’m a bit of a June Cleaver. I’m a wife and a mom of teenage twins that I homeschool. I am currently a Realtor in San Antonio, TX, and a lender in both Texas & California. But if you are from Southern California don't worry I have connections, I also help educate all over the country about the home buying process and have a team of people that i work with to help you reach your goals. We moved to SATX from SOCAL in 2018 to simplify our life. I love it here and have helped several people relocate. Read More


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