The Agency - Bahamas - Flipbook - Page 34
YOUR FINANCES AT A GLANCE
What do lenders review when
considering you for a loan?
YO U R C R E D I T
Establishing good credit with a good payment
history is imperative and helps boost your
credit score.
J O B STA B I L I T Y
A consistent job history with the same company
is ideal, but a career advancement may also
be acceptable.
D E B T-TO - I N C O M E R AT I O
The lender looks at your full income, debt, down
payment, loan principal taxes, interest and
insurance to come up with an income ratio.
M O N E Y, M O N E Y, M O N E Y
This is where the lender verifies your funds
for your deposit.
P R O P E RT Y S EC U R I T Y
The lender will require an appraisal by a
certified fee appraiser to verify the property’s
marketability, condition and value, ensuring
sufficient collateral for the loan.
Don’t worry if you don’t meet all of
the guidelines. Lenders work
through a variety of circumstances.
And we’re here to help.
WHAT ARE MY
FINANCIAL PARAMETERS?
A little bit more about that money. Once you have your price range, you need to take into account
Stamp Duty Costs (one-time 7.5% fee), legal fees (0.5% to 1%), possible Strata fees and other
numbers. We’ll walk you through it.
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THE AGENCY BAHAMAS
