The last thing most people are interested in doing is applying for a loan -- and, specifically, a mortgage. It's not that they don't want a house; the concern is rather that your application will be denied.

While this wasn't an issue prior to the crisis, when essentially anyone could get a loan, it's become one in the years since. Lenders have clamped down on credit in response to massive loan losses that are still working their way through the system as well as new legal and regulatory requirements impacting the underwriting process itself.

It's with this in mind that Motley Fool contributor John Maxfield shares in the following video the three most important things you need to know before applying for a mortgage. As John discusses, these include your credit score, your debt-to-income ratio, and your ability to make a down payment. Check out the video to see the specific thresholds for each that could be the difference between getting a loan and being denied.

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