What Are the Credit Score and Income Requirements / How Do I Qualify?

The Basics You Need to Know to Qualify for a Home Loan

If you're thinking about buying a home, one of the first questions you’ll ask is: Do I qualify?
The answer depends on a few key factors — and the good news is, it may be easier than you think.

Minimum Credit Score Requirements by Loan Type

Different loan types have different score requirements. Here’s a general guide:

• Conventional Loan – 620 minimum (higher scores get better rates)

• FHA Loan – 580 minimum (sometimes 500 with 10% down)

• VA Loan – No official minimum, but most lenders look for 580–620

• USDA Loan – Typically 640+

Keep in mind: lenders also review your credit history, not just the score.

Income Requirements — It’s Not Just About the Dollar Amount

You don’t need to earn six figures to qualify for a mortgage.

What lenders really care about is your debt-to-income ratio (DTI) — the percentage of your income that goes toward debts like credit cards, car loans, and student loans.

Most loan programs want your total DTI (including your future mortgage) to stay below:

• 43% for Conventional Loans

• 50% for FHA Loans

The lower your DTI, the more you can typically qualify for.

Other Key Factors That Impact Qualification

• Employment History – Typically 2 years of consistent income

• Assets & Savings – Enough for your down payment and reserves

• Credit History – A pattern of on-time payments is key

Want to Know What You Qualify For?

The best way to get an accurate answer is to talk with a mortgage professional who can run the numbers and guide you based on your specific profile.

They’ll help you:

• Check your credit

• Review your income

• Find the right loan program

• See if you qualify for assistance

Helpful resources:
https://www.consumerfinance.gov/owning-a-home/prepare/
https://www.fha.com/fha_loan_requirements