What do mortgage lenders look at when deciding to qualify you?

We want to start taking the steps to first time home ownership but I'm curious, what do mortgage lenders look at when deciding to qualify you for a mortgage. I just want to make sure we get ourselves in order so that when its time to go to the bank we will be prepared and maybe improve our chances of getting a loan.What do mortgage lenders look at when deciding to qualify you?
1) your total debt payments / your total income before taxes


2) delinquent and past due account balances on credit report


3) cash balances in your checking, savings and investment accounts


4) FICO score


5) Collateral value of property you are buying (they get it appraised)


6) last year W-2's from your employersWhat do mortgage lenders look at when deciding to qualify you?
How do you buy delinquent mortgages ? I am not asking about how to buy real estate in foreclosure . I am asking as to whether there is a way to invest on buying the delinquent


mortgages . Thank you








for more info visit our website mortgage brokers, hard money lenders
Credit score


Debt-to-income ratio


Stable income/jobs


Down payment cannot be a gift (they will check your bank statements).