When applying for a mortgage, the lender you have chosen will take many factors into account. These factors not only influence what type of loans you can qualify for but also what your monthly payments will be and how many years you will take to pay the loan off completely.

Knowing the factors considered by the lender, and taking steps to improve your scenario ahead of time can make a tremendous difference in the processing of your loan. Preparation can literally make all the difference in the world.