Exactly what are your odds of home loan approval? Your advance payment and credit rating produce a difference

Many home loan candidates aren’t perfect

If you should be scanning this article, it’s likely that you are at the very least a small concerned about getting home loan approval. An Urban Institute research classified home loan candidates into three teams:

  • Candidates having a high credit history and big advance payment
  • Candidates with a reduced credit history (below 580) and a tiny payment that is down
  • Most people are into the middle — a mix of fico scores and down re payments