Posts from August 18th, 2023

Buying a house comes with a lot of considerations for anyone and especially first-time home buyers looking to get into the housing market. Usually, home buyers put a lot of thought into how they can afford a home but often forget about building creditworthiness or ensuring that they are a worthwhile risk for a lender.

If you're a first-time buyer, do you know the 5 Cs of credit?

1. Capacity
   From a lender's perspective, capacity is a borrower's ability to repay a loan and comes down to largely your income versus expenditures or other debt obligations. Some lenders may take your current income and project it decades into the future to see how your income will change over the time you have your loan.
   
   Capacity also deals with your cash flow which can raise a big red flag if you spend unnecessarily or have considerable d...

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