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Can I Qualify?

A six-question walkthrough that mirrors the conversation a loan officer has on the first call. You will get a directional answer plus the specific factors that drove it.

Question 1 of 6

What is your gross monthly income?

Before taxes, all borrowers combined. Use the average of the last 24 months if it varies.

$

Salary, bonus average, self-employment net, retirement income

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Use the free First-Time Buyer Playbook to organize your budget and questions. No email or signup required. This is education, not loan approval.

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Frequently asked questions

Is this a real qualification?
No. This is an educational tool that uses common rules of thumb. A real prequalification reviews your credit, income documentation, and assets.
What credit score do I need to qualify for a mortgage?
Common educational thresholds include 620 for some conventional programs and FHA's 580 with 3.5% down or 500 with 10% down. VA has no agency minimum, but lenders set overlays. The score model, program and lender requirements vary; a threshold is not approval. Eligible Fannie/Freddie loans may use Classic FICO or VantageScore 4.0. This tool does not calculate either model or predict approval.

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Related reading

Want the story behind the numbers?

  • ArticleWhat does pre-approval actually mean?What a real qualification looks like beyond the rule of thumb.Read
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  • ArticleWhat credit score do you really need?Where the credit-score thresholds in this tool come from.Read
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  • ArticleFHFA's new mortgage credit score models: FICO 10T and VantageScore 4.0 explainedVantageScore 4.0 availability, Classic FICO choice and FICO 10T's pending Enterprise delivery status.Read
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Related calculators

More buying a home calculators

See all

Mortgage Payment Calculator

Estimate your full monthly payment including principal, interest, taxes, insurance, HOA, and PMI.

Calculate payment

Affordability Calculator

See the home price you can comfortably afford based on income, debts, and target debt-to-income ratio.

Check affordability

Closing Costs Calculator

Estimate the cash you will need at the closing table beyond your down payment.

Estimate closing costs

Rent vs Buy Calculator

Compare renting versus buying over 5, 7, and 10 years. Surfaces the breakeven year in plain English.

Compare renting and buying