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
-Pledged assets, unsecured loans
4) Attitude toward repayment
-Credit report
-Explanation of derogatory items (judgments, late payments, tax liens, collections, etc..)
5) Qualifying ratios
-Normally, your total monthly housing payment should not be more than 28% of your total 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
