Am I qualified to purchase a home? Am I qualified for a mortgage loan?

The 3 key factors to get approved for a loan

1- Income:  Your income has to be high enough to cover your mortgage payments and other obligations/debt.

2- Credit score: Minimum scores depend on the lender and program.  Usually, you will at least need a score of 680.

3- Down payment: There are programs out there which will not require a down payment.  The lower your downpayment is, the more strict the qualification process will be for both you and the subject property.  There are programs like FHA that require a 3.5% downpayment.  There are insured conventional programs that will required between 5-20% downpayment.  Conventional loans require 20% or more downpayment.

If you have any questions about home purchase financing, please contact me at 812-369-0785 or email at