ANB In-House Mortgage Qualifications

Applying at American Nation costs you $0.  Below are some of the factors we take into consideration:

  • Credit score and credit history – You must have an acceptable credit history and   credit report.  Based on credit, the lender will advise what is the best loan for you.
  • Income – Is your income/employment stable?  Do you have a minimum 12 mo. employment history?   If self employed, do your 2 years’ of tax returns verify stable and adequate income?
  • Cash Flow – We look at your monthly debts and monthly income, then analyze to make sure you will have enough income to service all your debt.
  • Assets – What assets (money or equity) does the borrower have available for down payment and closing costs?   Maybe you are getting a family gift?  Maybe you own your property and this is your equity?  Maybe you have money in savings?
  • Property – Property must be acceptable to lender.  We require the person have an acceptable down payment, in the form of equity or cash.  The repayment term is determined by the age and condition of the property and is typically a maximum of 15 years on commercial property and 20 years on consumer real estate.