How to Qualify for Your First 首页 贷款
Buying your first home is one of the most exciting events in your life. 但, before you can sign the contract and get the keys to your new house, you must qualify for a mortgage, 或房屋贷款. In fact, it’s best to apply for a mortgage preapproval before you even start looking at houses for sale. This process may seem overwhelming and intimidating, but understanding how it works can put your mind at ease.
What is a mortgage?
A mortgage is a loan secured by real estate. 这种类型的贷款允许你购买一个房子，即使你没有获得全额购买价格现金. When you take on a mortgage, you’ll make payments every month. Each payment will include a portion toward the principal, which is the outstanding balance of the loan, as well as a portion toward interest.
在大多数情况下, 你的贷款人也会代表你支付房产税和家庭保险, so a portion of your monthly mortgage payment will go toward these expenses as well.
Different types of mortgages 是可用的. Although most mortgages have the same basic requirements, 你选择的抵押类型将决定你需要满足的具体要求.
抵押贷款主要分为两大类:传统贷款和政府支持贷款. 传统贷款是由贷款人直接发放的贷款，没有任何政府机构的支持. Government-backed mortgages are insured or guaranteed by government agencies, “政府”对部分贷款进行了担保，因此可以根据与传统贷款不同的标准发放贷款.
Mortgage qualification basics
To qualify for your first home loan, you’ll need to meet several requirements. Don't worry if you can't meet all of them right away. There are steps you can take to improve your financial position and prepare for your first mortgage. 让我们讨论一下为了获得住房贷款，你需要满足的典型要求.
出借人想知道你有可靠的收入来源，这样你就能按时支付抵押贷款. 因为这个原因, your lender will need to verify the amount of income you bring in on a monthly basis, as well as its source or sources.
Sources of income that may be used to qualify for your home loan include:
- Wages from employment
- Self-employment income
- Investment income
Lenders realize financial hardships occur sometimes. 因为这个, they want assurance that you have reserves, or liquid assets, 如果你失去了正常的收入来源或面临其他财务问题，可以用来支付你的抵押贷款. Assets you can put toward your reserves include:
- 检查 account balances
- 储蓄 account balances
- 退休 accounts
- Certificates of deposit
你的贷款人需要确保你有足够的收入，不仅仅是支付你的抵押贷款, but also to pay your other revolving debts and monthly expenses. 以确保, your lender will calculate a debt-to-income (DTI) ratio, which is the ratio of your mortgage and other monthly debts to your monthly income.
放款人同时确定前端债务收入比和后端债务收入比. 前端DTI比率是通过除以你的潜在住房费用计算出来的——这可能包括你未来的抵押贷款支付, mortgage insurance, property taxes and homeowners insurance — by your gross income. 然而后端DTI比率包括所有所需的最低每月债务支付发现你 信用报告.
To calculate your front-end DTI ratio, simply divide your expected monthly mortgage payment by your gross monthly income. To calculate your back-end DTI ratio, 用你的月收入总额除以你预期的按揭付款和其他月债务总额.
Many lenders have limits for both the front-end and back-end DTI ratios. 例如，前端DTI比例为35%，后端DTI比例为45%是可取的. Larger DTI ratios may be approved, but you may end up paying a higher interest rate. It’s rare for a back-end DTI ratio of 50% to be approved.
All mortgage lenders will look at your 信用报告 and credit score. Your 信用报告 provides information about your current debts and credit history. 它显示了您所有帐户的余额，以及您每个帐户的支付历史. If you’ve filed for bankruptcy in the past few years, or if you have accounts in collections, this information appears as well.
你的信用评分是一个三位数的数字，表明你作为借款人的风险水平. The higher your score, 你的贷款人就会对你偿还贷款的能力更有信心，没有任何问题. If your score is low, you may not qualify for the loan, or you may be forced to pay a higher interest rate.
在一般情况下, 只要你的信用评分至少达到620分，你就有资格申请大多数项目的住房贷款. If your credit score is lower than 620, 你仍然有资格申请政府支持的联邦住房管理局(FHA)贷款, especially if you can make a large down payment.
In many cases, you’ll be required to make a down payment when you purchase a home. Ideally, lenders like to have a down payment equal to 20% of the purchase price. There are zero-down and low-down payment loan options available, however.
If you’re making a smaller down payment, you'll likely be required to pay private mortgage insurance (PMI), which will increase your monthly mortgage payment. 抵押贷款保险是为了在你因某种原因停止还款时保护贷款人.
Improving your chances to qualify for a home loan
If you’re concerned you won't be able to qualify for a mortgage, don't despair. Whatever the issue may be, you can take steps to improve your profile as a borrower. Even if you already meet the basic mortgage qualification requirements, 你可能仍然决定采取一些行动来增加你获得最好利率的机会. 这里有一些提示，可以帮助你加强你的抵押贷款申请，并获得你需要的贷款.
Boost your credit score.
If your current credit score is too low to qualify for a mortgage (lower than 620), or if you want to improve your credit score to lower your interest rate, you can work on making positive changes to your 信用报告.
For example, if you have credit card debt, paying down some of your balances can raise your credit score. Reducing the balance you carry month to month lowers your credit utilization rate, which is the ratio of your outstanding balances to your available credit. Ideally, this amount should be no higher than 30%.
你也可以通过确保按时还款来提高你的信用评分. A single late payment can have a significant impact on your score, so be careful to pay every bill by its due date. 记住，逾期付款不报告信用机构，直到30天已经过去, but it’s still best to pay your bills on time to be safe and avoid late fees.
Reduce your debt-to-income ratio.
Your debt-to-income ratio can make or break your ability to qualify for a home loan. Even if you do qualify, a high DTI ratio may cause you to miss out on the lowest mortgage rates, which will raise your monthly payment. 不仅如此, 但是高的DTI比率表明，在你目前的财务状况下，你可能在偿还按揭贷款方面有困难. If possible, take steps to lower a high DTI ratio before attempting to buy a home.
为了提高你的DTI比率，你必须要么增加你的收入，要么减少你的债务. For most people, lowering revolving monthly debts is a more realistic strategy. You can do that by paying down your balances and eliminating new spending. You may also be able to lower your monthly debts by refinancing installment loans, such as car loans or private student loans.
许多借款人都倾向于寻找一种贷款机构或贷款项目，这种贷款机构或贷款项目允许他们支付尽可能少的首付以获得贷款资格. 如果，相反，你选择支付更大的首付，你将获得几个优势. Specifically, a larger down payment could:
- Lower your interest rate by making your loan less of a risk.
- Help you avoid paying private mortgage insurance.
- Decrease your monthly payment by reducing the loan's outstanding balance.
Although it may take some time to save up for a 20% down payment, the benefits that come with a larger down payment are worth the effort. 当你考虑到你每个月可以省下的本金和利息时, as well as the potential to eliminate the need for private mortgage insurance, you could be looking at hundreds or even thousands of dollars saved per year.
幸运的是，有几个策略你可以用来存钱以备最后的首付. Let’s look at three of them:
1. Find money in your budget.
The best place to start is by combing through the details of your 月度预算 to look for any opportunities to reduce your spending. 把你通过这些预算调整省下来的钱存到你的储蓄账户里.
2. Sell unwanted items.
大多数人身边至少有一些不再使用或需要的东西. If you have any valuable items you don't want anymore, consider selling them on eBay or a similar platform. 当你卖东西的时候，把钱存起来，这样你就不会被诱惑去花钱了.
3. Pick up a side job.
In today's world, finding an extra stream of income is easier than ever before. 考虑送外卖、加入拼车公司或销售自制的东西. As with any savings strategy, 最好把你赚到的钱直接存入一个单独的账户，这样它就可以作为你的首付了.
The importance of a home loan preapproval
As you can see, qualifying for a mortgage can be complicated. 对于一些借款人来说，获得抵押贷款甚至可能需要一些生活方式的改变和耐心. Because not every borrower will be able to qualify for a mortgage on the first try, it’s a good idea to get preapproved for a home loan before you start house shopping.
Although it's not a guarantee that you’ll qualify for the loan, a preapproval gives you a good idea of how much you can afford to borrow. Buyers with preapprovals also tend to be more attractive to sellers, giving any offers you make an extra advantage.
Get your mortgage preapproval.
Get your mortgage preapproval.