Question 1

How much house can I afford?

Accepted Answer

Housing costs should not exceed 28% of gross monthly income; total debt under 36%.

Question 2

Does checking my budget affect my credit?

Accepted Answer

No. Affordability checks and pre-qualification use a soft pull or no pull.

Question 3

What credit score do I need for a mortgage?

Accepted Answer

FHA: 580+ (or 500+ with 10% down). Conventional: 620+. VA: typically 580-620+ depending on lender.

Question 4

How much should I put down on a home?

Accepted Answer

Conventional: 3-5%. FHA: 3.5%. VA/USDA: 0%. 20% avoids PMI.

Question 5

What loan programs are available?

Accepted Answer

Conventional, FHA, VA, USDA, Jumbo, and Investment Property loans.