One might be considering why some banks turn down a mortgage application while some others might consider it fit for approval. The answer may actually lie in the credit report and the credit score to be exact which plays a crucial role in loan permitting.
Credit report is an important factor inspiring loan granting choices by the lender or mortgagee. As an element of the pre-approval process an in depth investigation is carried out into your money history whereby the bank assesses your money affairs, your credit history and your investments. Your debt ratios are compared with the lender's standard while deciding on the loan approval.
Your debt level or credit history is taken as a parameter for judging your capability to make the monthly repayments. The credit history as represented by your
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