Mortgage
Take the first step to get pre-qualified.
The amount you need to put down on your house depends on the type of loan you choose. Different loan types have different down payment requirements. For example, a conventional loan typically requires a down payment of 3% to 20%, while an FHA loan requires a minimum of 3.5%. VA loans often require no down payment for eligible veterans and active-duty military members.
Choosing the right mortgage lender depends on your financial situation, credit score, and preferences. Look for a lender that offers competitive rates, good customer service, and loan options that fit your needs. It’s also a good idea to compare multiple lenders to find the best terms.
Your income, debt-to-income ratio, and other financial factors determine how much house you can afford. A general rule of thumb is that your monthly mortgage payment should not exceed 28% of your gross monthly income. Use Keytopia’s affordability calculator to get a more accurate estimate.
Mortgage pre-qualification is an initial step in the home-buying process. It involves a lender reviewing your financial information to estimate how much you can borrow. Pre-qualification can help you understand your budget and show sellers that you’re a serious buyer.
Your credit score is a significant factor in determining mortgage eligibility. Lenders use your credit score to assess your risk as a borrower. A higher credit score can help you qualify for better rates and terms. Most conventional loans require a minimum credit score of 620, while FHA loans may accept scores as low as 580.
Quality lenders in the Keytopia Lender Directory can help you buy or refinance a home.
