Okay, so we all know about the 4 C’s when it comes to diamonds, don’t we?!  But do you know that there are also 4 C’s when it comes to credit and lending mortgage money?

All lenders will look at these 4 items when determining if you are credit worthy, so if you’re thinking of buying a house soon, please take note.

1)      Capacity ~ do you have the ability to repay the loan?  Income can be counted from a variety of sources, check with your lender to see how much of a loan you qualify for.

2)      Credit ~ what is your personal history and how well (or not so well) have you managed to repay other debt.

3)      Character ~ how you handle prior debt – do you have any foreclosures, bankruptcies etc.

4)      Collateral ~ what is the value- the collateral – of the property you want to buy.

Don’t be overwhelmed by all of or any of this though, even if you might not score an A+ grade on all of the 4 C’s doesn’t mean you can’t buy a home.  With the help of a reputable lender and a willing real estate agent (like me!!!) we can help you change your C’s to A’s in no time!