What are the requirements to apply for a mortgage with Midland Mortgage Company?

To apply for a mortgage with Midland Mortgage Company, there are several requirements that applicants need to meet. Firstly, applicants must have a steady source of income, typically through employment or self-employment, to demonstrate their ability to make regular mortgage payments. Additionally, a good credit score is essential, usually with a minimum score of 620, to indicate a responsible credit history. The loan-to-value (LTV) ratio, calculated by dividing the loan amount by the appraised value of the property, should generally not exceed 95%. Proof of assets and liabilities, including bank statements, tax returns, and debt information, is also necessary during the application process. Overall, meeting these requirements ensures a smooth mortgage application process with Midland Mortgage Company.