Loading the calculator. If this message stays, scripts are not running on this network or browser, so results cannot be calculated here. Try another network or device.

Will I Qualify for a Mortgage?

Lenders look at four main things. Answer four quick questions to see where you stand, then read what each one means and how to strengthen it. This is a rough self-check, not a pre-approval.

Your answers are not saved. We do not collect them. They stay in your browser and disappears when you refresh or leave this page.

Four quick questions
Where you stand

This is a general self-check. Lenders look at your whole situation, so a lender can tell you what you actually qualify for.

What lenders look at

1. Your credit

Your credit score and history show how reliably you repay debt. Many lenders want a score of at least 620 for a conventional loan. FHA loans can go lower, with 580 the common line for the smallest down payment, and VA and USDA lenders set their own minimums. A higher score usually means a lower interest rate, so even if you qualify, your score affects what the loan costs.

2. Your income and job history

Lenders want income that is steady and can be documented. Two years in the same job or field is a common benchmark, and self-employed buyers usually need two years of tax returns. Raises, overtime, and bonuses can count if they are consistent and documented. A recent job change is not always a problem, especially in the same field, so tell your lender about it early.

3. Your debt-to-income ratio

Debt-to-income, or DTI, compares your monthly debt payments, including the new mortgage, with your gross monthly income. Many lenders look for total debts at or below roughly 43% to 45% of income, though some programs allow more with strong credit or savings. Paying down debt before you apply can raise how much you can borrow. Try the affordability calculator to see how your income and debts translate into a price range.

4. Your down payment and savings

You need money for the down payment and closing costs, and lenders want to see where it came from. Some also like to see reserves, which is savings left over after closing, often a few months of housing payments. The cash to close estimator shows how much you may need, and first-time buyer programs may help cover it.

The home matters too. It has to appraise for at least the price and meet the loan program's condition standards.

Documents to gather

  • Recent pay stubs, usually about 30 days' worth
  • W-2 forms and tax returns for the last two years
  • Bank and savings statements, usually the last two months
  • Photo ID and your Social Security number
  • Statements for your debts, such as credit cards, car loans, and student loans
  • For gift money, a letter from the giver saying it does not need to be repaid
  • If you are self-employed, profit and loss statements and business tax returns

Pre-qualification vs. pre-approval

A pre-qualification is a quick estimate based on information you provide, and a lender usually has not verified it. A pre-approval goes further: the lender checks your credit and reviews your documents. Sellers take a pre-approval more seriously, so it is the one to get before you start making offers.

Things that can hurt your chances before closing

  • Taking on new debt. Do not finance a car or open new credit cards while your loan is in process.
  • Large, unexplained deposits. Lenders ask where big deposits came from, so keep records.
  • Changing jobs. Tell your lender first, since some changes are fine and others are not.
  • Missing a payment. A late payment can lower your score at the worst time.
  • Co-signing for someone else. It can count as your debt.

How to improve your odds

  • Check your credit reports for free at AnnualCreditReport.com and dispute any errors.
  • Pay down credit card balances, which can raise your score and lower your debt-to-income ratio.
  • Pay every bill on time, and avoid opening new accounts.
  • Keep your savings in an account you can document, and avoid moving money around.
  • Talk to a lender early. Even if you are not ready, they can give you a plan and a timeline.

When you start talking to lenders, you can compare more than one. Mortgage credit checks done within a short window, usually 14 to 45 days, are generally counted as a single inquiry for scoring. Read more in Should I let a lender check my credit?

Next steps: see which loan type may fit, estimate how much house you can afford, and read about the loan process and rate locks. A lender can tell you what you actually qualify for.

Common questions about qualifying for a mortgage

What credit score do I need to buy a house?

It depends on the loan type. Many conventional loans look for a score of at least 620, and FHA loans may allow lower scores with a larger down payment. Higher scores generally get better rates, and each lender sets its own minimums.

How much debt is too much to qualify for a mortgage?

Lenders compare your monthly debt payments, including the new mortgage, to your gross monthly income. Many lenders look for total debts at or below roughly 43% to 45% of income, though some programs allow more with strong credit or savings. Paying down debt before you apply can help.

What is the difference between pre-qualification and pre-approval?

Pre-qualification is a quick estimate based on what you tell the lender. Pre-approval goes further: the lender checks your credit, income, and savings, and may give you a letter to show sellers. Pre-approval carries more weight.

Can I get a mortgage with a short work history?

Lenders usually want to see steady income, often two years in the same job or line of work, though there are exceptions. Self-employed buyers are typically asked for tax returns to document their income. A lender can tell you what applies to you.

What do I need to save before I apply?

You will need money for a down payment and closing costs, plus some savings left over. Try the cash to close calculator to see the full amount.