Income and Employment: You should have a stable source of income, typically from employment or self-employment. Lenders will assess your ability to make regular mortgage payments. Some lenders may require a minimum income level.

Credit History: Your credit history will be evaluated to assess your creditworthiness. Lenders will review your credit report and credit score to determine your repayment history and risk level. A positive credit history can improve your chances of loan approval.

Debt-to-Income Ratio: Lenders will calculate your debt-to-income ratio to ensure that you can comfortably manage the mortgage payments along with your existing financial obligations. A lower debt-to-income ratio is generally more favorable.

Down Payment: You will typically need to make a down payment on the property. The required down payment amount can vary, but it’s typically a percentage of the home’s purchase price. A larger down payment can improve your eligibility and may result in better loan terms.

Employment Stability: Lenders often prefer borrowers with a history of stable employment. You may be required to provide proof of your employment history.

Loan Amount: The amount you can borrow depends on various factors, including your income, creditworthiness, and the lender’s policies. Different lenders have different maximum loan amounts.

Property Appraisal: The lender may require a professional appraisal of the property to determine its value. This helps ensure that the loan amount aligns with the property’s worth.

Legal and Regulatory Compliance: The property you intend to purchase should comply with all local and national laws and regulations. The lender may conduct due diligence to verify compliance.

Age Restrictions: Some lenders may have age restrictions for borrowers, often requiring that you be below a certain age at the end of the loan term. This ensures that you have sufficient time to repay the loan.

Loan Purpose: The loan should be used for the purchase of a primary residence. Some lenders may have restrictions on the use of funds for investment properties or second homes.

Insurance: You may need to obtain homeowners’ insurance, which protects the property and the lender’s interest in it.

Bank Account: You will typically need a bank account for loan disbursement and repayment purposes.

Documentation: You will be required to provide various documents, including identification (such as a national ID card or passport), proof of income, proof of residence, and information about the property.

Interest Rate: Lenders will determine the interest rate based on factors like your creditworthiness, the loan term, and market conditions.