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Is a mortgage loan based on income?

by | Feb 5, 2021

The most common way to receive mortgage loan approval is to qualify based on income. Of course, there are other qualifiers such as debt-to-income, credit score, and even exceptions that are judged on a case-by-case basis. Naturally, the higher your income and credit score, the better your chances are for getting a larger loan. Generally, limits include a maximum debt-to-income ratio of 50%.