When you’re applying for a mortgage, auto loan, personal loan, or any other loan, you want to get the best outcome. However, your loan application may not go well all the time. It’s because lenders consider a range of factors to ensure that they are extending the loan responsibly.

If you don’t know what your lender is looking for, it can be more difficult for you to get approval. It would be best to acquaint yourself with the different factors that may significantly affect a lender’s decision on your loan.

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