1. Ability to repay the loan
-Income
-Employment
2. Assets
-Liquid (savings, checking, CDs, etc..)
3. Liabilities
-Revolving and installment accounts
-Child support and alimony payments
4. Attitude toward repayment
-Credit report
-Explanation of derogatory items (judgments, late payments, tax liens, collections, etc..)
-Mortgage history rating
5. Qualifying ratios
-Normally, your total monthly housing payment should not be more than 28% of your total gross monthly income
-Normally, your total monthly housing payment plus your other monthly recurring debts combined should not be more than 36% of your total monthly gross income
