This proves to sellers that you are a serious, capable buyer.
Your total monthly debt payments divided by your gross monthly income. The Goal: Most lenders prefer a DTI ratio of 43% or lower. what qualifies you to buy a house
You can sometimes qualify with a score as low as 500–580. This proves to sellers that you are a serious, capable buyer
A lender has reviewed your finances and committed to a loan amount. a healthy credit score
To qualify for a home purchase, you generally need to meet four main criteria: a stable income, a healthy credit score, manageable debt, and enough cash for a down payment and closing costs. 💰 Financial Stability
This includes your future mortgage, car loans, and student debt. ✅ Pre-Approval Status
You’ll need recent pay stubs, W-2s, and tax returns.