Debt Consolidation Home Loan Criteria

All home loan applicants need to fit within the policy of the chosen lender. All lenders assess the details below, though each lender will put more or less weight toward one or more criteria: These are called the 5 c’s of lending.

• Capital – Relates to Assets or financial strength of an applicant
• Capacity - To repay the loan
• Character - Past loan behaviour
• Conditions - Economic and/or industry related
• Collateral - Loan Security

This basic criteria is followed across all lenders, with more weight being put on one “C” if there is another “C” that is low.

You will have a much better chance of being approved if you have documented evidence of the above mentioned debt consolidation home loan criteria.