In simplest terms, loan approval depends on three factors: the property appraisal, your credit history, and your loan application. The property you want to buy must appraise for the price you are offering. Your credit history must be relatively clean, which is why it is good to check your credit history before you go to a lender. On your loan application you will disclose your income and debts, which must conform to the lender's income-debt ratio guidelines.