ACID Test or Liquidity Ratio: How it Applies to Your Mortgage Approval
Buying a home can be both exciting and nerve-racking. If it’s your first time, you are probably overwhelmed. Before you buy a home, you’ll want to know the steps involved, money saving strategies, and the mistakes to avoid for first time home buyers.
One of the biggest reasons first time home buyers are unable to buy the home they want is because they are unable to qualify for a mortgage. You should spend equal time and effort on improving your mortgage qualifications as you do on finding a great home.
Before you begin the home buying process, you’ll want to learn about everything a mortgage lender and bank will want to see, in order for you to qualify for a home…