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How Does Employment and Credit Affect Your Refinance Home Loan
September 9, 2009 by Mortgage Align · Leave a Comment
Every part of your life is entwined with the other part. Same goes for the refinance. Looking at your past employments gives the lender an idea about of stability and increasing income. It shows that you are a good customer, less risk of foreclosures.
Seeing the credit history gives a picture of your borrowings, lending and repayments. If it steady you naturally have a high credit score. This is seen to check the ability of repayment of the refinance home loan. You are protected by law against discrimination on the basis of color, origin and income. Even with a poor employment history and bad credit you are eligible for a number of loans.
