Question

Name at least four factors that a lender investigates when considering whether you are creditworthy.

Answer 1

1.How responsible you are.
2. Living Expenses
3.Money owed
4.Current income

Answer 2

Answer:

Income, cost of borrowing, default rate, collateral

Explanation:

When borrowing, you need to provide as much information about your financial life as possible to the lender. This is important because in a loan there are risks, for example default. Therefore, the lender will evaluate, among other things, your income, your payment history, the cost of the loan, the average default rate and the collateral you can offer. This causes the lender to minimize the chances of not getting the money back.