How important is my income when qualifying for a home purchase?

How important is my income when qualifying for a home purchase?

John Caliendo (Realtor) gives expert video advice on: What are some of the benefits of owning a home?; What are some of the drawbacks of owning a home? and more...

When it comes to qualifying for a home purchase, income is not as important as credit is, and that comes as a surprise to many buyers. But the reality is that this is what an institution (a financial institution) is looking at, your creditworthiness; as your past history predicts your future potentiality of being a good borrower.