TD Bank will consider different factors when they evaluate your mortgage loan application. You can apply for pre-approval once you've selected the type of mortgage you're looking for, with a term that's right for your needs. This preapproval gives you a preliminary idea of how much the bank will lend you. Requirements differ between lenders, but some of the following will come up when your mortgage application is assessed. Debt: How much debt you have, and what kind. All types of debt are considered by banks when making this assessment. Down payment: How much have you saved to put towards the cost of your new home. If it’s less than 20% you will have to purchase mortgage default insurance. Credit history: Your credit score and history of bill payments and debts. Income: Your household earnings including proof of income. Assets: Material items of value you own including other properties.