READY for Your First Home.

Key Mortgage Qualification Criteria

1. Check your credit score: Review your credit score and credit history to understand which mortgage options may be available to you.

2. Calculate your gross monthly income: Add up your qualifying monthly incomefrom salary, wages, bonuses, commissions, and other eligible sources.

3. Calculate your housing and debt-to-income ratios: Determine how much of your gross monthly income would go toward your proposed housing payment and total monthly debt payments.

4. Determine your down payment: Calculate how much you have available for your down payment, closing costs, and required reserves.

5. Determine what type of mortgage you qualify for: Based on your credit, income, debt, down payment, and other financial factors, identify the mortgageprograms you may be eligible for.