Lately, buyers have wanted to know what lenders are looking for. Well, the Chief Economist for Freddie Mac summed up the answer very nicely. œIn today’s lending environment, it’s also important to remember the 4-C’s when looking for a mortgage: capacity, capital, collateral, credit,” he said. “In other words, have stable income, have assets or savings, be prepared to make a common-sense down payment, and have a good credit history.”As a buyer, you need to know your FICO score and to read the fine print in all documents concerning your mortgage. Pre-Approval letters are not a guarantee of you getting a loan. Talk to your lender before you start looking at homes. I work with some great lenders who will sit down with you and answer all of your questions. There are no dumb questions. Your home is going to be one of the biggest investments you make in your lifetime. It™s important to know where you stand and to have all of your questions and fears addressed before writing a contract.