: Your total monthly debt payments divided by your gross monthly income should ideally stay below 36% to 43% . Some conventional programs may allow up to 45–50% for high-credit borrowers.
: Lenders typically require two years of steady employment or self-employment in the same field. 2. Upfront Cash Requirements what are the requirements to buy a house
Lenders use these benchmarks to determine if you can realistically afford a mortgage. : Minimums vary significantly by loan type: Conventional Loans : Generally require a 620 or higher. : Your total monthly debt payments divided by
: Can go as low as 500 (with 10% down) or 580 (with 3.5% down). VA and USDA Loans : Typically look for 580–640 . : Can go as low as 500 (with 10% down) or 580 (with 3
How to buy a house: Your step-by-step guide to buying in 2026
Beyond the sticker price of the home, you need liquid savings for several immediate expenses.