Mortgage Eligibility
See the key criteria lenders look for — then connect with a licensed lender to find out where you stand. Results come from a real broker, not a formula.
What Lenders Want to See
These are the key eligibility criteria lenders look for. Meet these criteria and you'll get the best rate with the fastest approval. If you fall short on any of them it doesn't mean you can't get approved — it just means it may take longer and cost more.
| Criteria | Guideline |
|---|---|
| Credit score | 620+ |
| Down payment | 3.5% minimum — unless you're a veteran or buying in a rural area |
| Income | Monthly mortgage payment less than 1/3 of gross income |
| Bankruptcy | Not within the last 2–4 years depending on loan type |
| Property value | $100,000+ — possible but harder below $150k; requires land ownership (not leased lot), permanent foundation, building codes, and utilities (water, sewer, electric) |
| Purchase timeline | Within 60 days — after that, pre-approval offers may expire and your rate may change |
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