A great many factors will influence how much a lender will loan you to purchase a home. Here's a partial list:

• your credit report
• your job stability and income
• debts, including child support or alimony payments
• income to debt ratio
• interest rate and program at the time your loan is approved

Many times, lenders will overlook some negative factors in a buyer's package in return for a large down-payment, a higher interest rate, a letter from your mother (just kidding!). I've also known great people who were turned down for a loan with a bank, sometimes their own bank. I put them in touch with a mortgage broker, who works with many different lenders, and there was no problem obtaining financing with excellent rate and terms.

I have reprinted an excellent article "Where Do Mortgage Lenders Get All The Money They Lend?" Click here to read it!

Have you ever considered buying investment property? There is financing available now for 10% down, with attractive rates, too. This is a big improvement over former scenarios for investors.

Issues are complex enough, and rules change often enough, that I generally refer my buyers to a competent and reliable loan representative to be pre-qualified. Continue below if you would appreciate such a conversation to determine your purchasing power!