After all, when you have an effective 750 borrowing history, do you have a 650 or an effective 550?
- Character, or your credit. How well have you paid back other people? And that’s determined by the type of trade lines that you have on your credit, what your credit score looks like.
- Potential or Income, We look at normally on a full-doc loan or on a bank statement loan. We can look at income a few different ways, though. We can look at it with tax returns, we can look at it with bank statements. For a cash flow loan, We can look at the income of the property itself, with the amount of income that it’s coming in as a rental for cash flow.
3. Money, which is your skin in the game, right, and that’s very important.