Common disqualifiers
How to Know You're Ready for a Mortgage

When you apply for a mortgage, you may be asked to complete a credit check common disqualifiers. There are many reasons why the process of obtaining a mortgage may include a background check. However, if you are applying to buy a home and have a bad credit history it can be difficult to find a mortgage company. Finding a mortgage company with a high percentage of bad credit borrowers will be more difficult.

Common Disqualifiers - Any involvement with crime classified as theft, fraud, prostitution, or domestic violence will negatively impact your ability to obtain a mortgage. Also any convictions of criminal assault, DUI/DWI, burglary, violent offenses will also affect your ability to get a mortgage. Also any employment verification, security clearance, or arrest record will be considered a common disqualifier. Any criminal activity within the last seven years will also negatively impact your application for mortgage funding.

Some common disqualifiers for police officers include arresting for crimes such as rape, murder, sexual assault, domestic violence, shoplifting, and other crimes. A police officer may have good intentions; however, their intentions can still become tainted by improper police procedure, department policy, or lack of internal supervision. If you have been accused of a crime that did not occur while on duty, you must possess a police certification which will provide you with a peace of mind. Police department policies are not always as transparent as you would like. In some states police officers are required to undergo a background investigation prior to being hired.

Common Disqualifiers - Any felony conviction within the last seven years will negatively impact your application for a mortgage. Some states and local municipalities require applicants to disclose police arrest records upon request. Applicants may also be required to undergo an interview with police recruiters. Police recruiters are looking for honest, dependable employees. Any police officer who is not able to meet these requirements will most likely not be hired by any of the leading mortgage companies.

Some common disqualifiers for those with criminal past include any felony convictions, domestic violence convictions, or previous illegal use of prescription drugs. Each of these common disqualifiers will raise your risk factor and will increase the cost of your mortgage. Each of these common disqualifiers increases your risk factor because mortgage lenders will view you as a higher risk when you have any of these in your history. Any police history will negatively impact your application for employment or will prevent you from getting a position in certain industries. There are many ways to clean up your criminal past and make it less of a stain.

Military Service is another one of the common disqualifiers. Any candidate who has served in the military more than 10 years will usually not be able to get into the mortgage industry. Most military service periods require at least two years of active duty. The exact details will vary based on the lender but military service will definitely be a common disqualifier.

Drug offenses are also some of the most common disqualifiers. If your DUI arrest was less than three years ago, you could be excluded from a loan. This is because most lenders do not consider a DUI current crime. Anytime a drug offense is more than three years old will also count as a current crime that would prevent an applicant from qualifying.

Other types of disqualifiers are serious misdemeanors such as rape, murder, major traffic violations, arson, fraud, domestic violence, embezzlement, burglary, and other crimes. Lenders will usually not accept felony charges because they believe that the person should have gone to jail or completed jail time. Even if you have no prior criminal convictions, this may still prevent you from getting a mortgage. This is because many mortgage companies are now conducting police background checks before they will approve any application.

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