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Home :: Resources :: Financial Needs Evaluators :: Mortgage Loan EvaluatorFinancial Needs Evaluators What Your Home BuyAbility Test Score MeansYou May Be Able To Afford More Home Than You Thought Regardless of how you scored, you can apply for the mortgage or refinancing amount you have in mind. That's because our lending officers always try to find ways to approve loan requests, not look for reasons why they can't. HOME BUYABILITY CHART If Your Test Score is... 14 to 17 points: Typical Down Payment 10% on a mortgage of less than $60,000. 18 to 20 points: Typical Down Payment 10% on a mortgage $60,001 to $80,000. 21 to 24 points: Typical Down Payment 15% on a mortgage $80,001 to $100,000. 25 to 28 points: Typical Down Payment 20% on a mortgage $100,001 to $125,000. 29 to 31 points: Typical Down Payment 25% on a mortgage $125,001 to $150,000. 32 to 33 points: Typical Down Payment 25% on a mortgage $150,001 to $175,000. Over 33 points: Typical Down Payment 25% on a mortgage over $200,000. Like what you see! Then click here to find out more about Oswego Community Bank's Home Loans. This test is for your information only. Loan self-tests do not include all of the factors we consider in evaluating a loan request such as your payment history and your ability to meet your monthly obligations. We reserve the right of final loan approval. ©1985 The Forms Group, All Rights Reserved |
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