what are the qualifications of buying a house?
183692
['A Sufficient Down Payment.', 'An Affordable Interest Rate.', 'A Minimum Acceptable Credit Score.', 'Your Debt-To-Income Ratio.', 'Being Able to Pay Closing Costs.', 'Financial Documentation.', 'The Bottom Line.']
1351777
Generally, to qualify for a home loan, you'll need good credit, a history of paying your bills on time, and a maximum debt-to-income (DTI) ratio of 43%.
132178
['Your income. your basic income. income from your pension or investments. ... ', 'Your outgoings. ?', "Future changes that might make an impact. The lender will assess whether you'd be able to pay your mortgage if: interest rates increased."]
653924
['Determine How Much Home You Can Afford. ... ', 'Save For A Down Payment. ... ', 'Find A Real Estate Agent You Can Trust. ... ', 'Get A Mortgage Pre-Approval And Choose A Lender. ... ', 'Find The Perfect Home For You. ... ', 'Make A Smart Purchase Offer. ... ', 'Hire a Real Estate Attorney. ... ', 'Schedule a Home Inspection.']
1008011
['Allows down payments as low as 3.5%.', 'Credit scores as low as 500 can qualify. ... ', 'Mortgage insurance premium payments are required.']
1268471
['Stable employment.', 'Plenty of savings.', 'The ability and motivation to do research and pay for inspections on the home you buy.', 'The emotional wherewithal to walk away if the home is ultimately not the right fit for you.']
890288
['National Diploma in Real Estate (Agent) (Level 5)', 'National Certificate in Real Estate (Branch Manager) (Level 5)']
172283
['You must be 21 years of age or older.', 'You need a stable and secure income.', 'You should be in good physical and mental health.', 'Your home needs to pass a safety inspection.', 'You cannot have child abuse reports or a criminal background.', 'You need a stable family relationship.']
592492
The Federal Housing Administration, or FHA, requires a credit score of at least 500 to buy a home with an FHA loan. A minimum of 580 is needed to make the minimum down payment of 3.5%. However, many lenders require a score of 620 to 640 to qualify.
731911
['Know your credit score. ... ', 'Have a lender pre-approve you before shopping. ... ', 'Shop the lender. ... ', 'Know every expense. ... ', 'Know what you want. ... ', 'Work with a skilled Realtor that knows your area. ... ', 'Understand the actual value of any property you are buying. ... ', 'Buy what you are comfortable paying for.']
1084840
['Step 1: Should I buy or rent? ... ', 'Step 2: What can I afford? ... ', 'Step 3: Saving for a deposit. ... ', 'Step 4: Finding the perfect home. ... ', 'Step 5: Getting a mortgage - agreement in principle. ... ', 'Step 6: The viewing. ... ', "Step 7: Make them an offer they can't refuse. ... ", 'Step 8: Surveys and conveyancing.']
904217
['3 years of experience working for a broker.', '40 additional hours of real estate education.', 'Successful completion of licensing exams.']
879710
['You must fill out a Tenant (Incremental) Purchase Scheme application form which you can get from your local authority.', 'You must give proof of your income.', 'You must show your local authority how you intend to pay for the house.']
1119944
You'll need at least a 620 credit score and a 3% down payment to qualify. FHA loan. An FHA 203(k) loan also provides financing for both buying and renovating a home. The credit score needed to make the minimum 3.5% down payment is 580.
779305
Lender requirements will vary, but here's what you'll generally need to get a HELOC: A debt-to-income ratio that's 40% or less. A credit score of 620 or higher. A home value that's at least 15% more than you owe.
457871
['A valid home purchase agreement must be in writing.', 'The contract must contain an offer and an acceptance.', 'The purpose of the agreement must be legal.', "There must be an exchange of things of value (usually, it's money for property)"]
623319
['Your credit score is 620 or higher — 700 and above will most likely qualify for the best rates.', 'You have a maximum loan-to-value ratio, or LTV, of 80 percent — or 20 percent equity in your home.', 'Your debt-to-income ratio is no higher than 43 percent.']