To dream for a house, impossible?
Owning a home is one dream many people aspire for. To many, a home is a dream fulfilled, success if you will, a sanctuary of comfort and peace. But is it really? How does a person or his family know if they are ready to own a home? The most essential and basic question to ask is, can you afford it? Do you have the ability and/or the capacity to buy a house or take a mortgage from a financing institution which will help you finance the acquisition. Because this is what it is really about. And what do the financing institutions look for when evaluating an applicant seeking for a housing loan. Common sense tells me, these are some of them: Is the applicant qualified to take a loan? Does his personal financial condition reflect a positive credit history after verification? Is income steady and consistent, can accommodate payment or amortization for the amount applied for. Does he have the integrity to pay back the loan year after year. After verificatio...