Qualifications To Buy A Home Today

Lenders use DTI to see how much of your gross monthly income goes toward debt payments. There are two types: (housing costs only) and back-end (all recurring debts). Credit score rules are changing for mortgages in 2026

: Very accessible, allowing scores as low as 500 (with a 10% down payment) or 580 (with a 3.5% down payment). qualifications to buy a home

: Neither has a strict government-mandated minimum, but lenders typically look for at least 580–620 for VA loans and 640 for USDA loans. 2. Debt-to-Income (DTI) Ratio Lenders use DTI to see how much of