At first glance, mortgages may look like an endless, rolling sea of numbers. And truth be told, understanding how to qualify for a home loan is enough to make most home buyers feel like they’re melting in a Dali painting.
But that doesn’t mean the math has to be surreal—all you need is our handy primer to help you decipher the main figures that you really should understand. A basic understanding of how a home loan works can save you major money and ultimately afford you more house.
So be sure to find a lender and Realtor® who are happy to answer all your questions. We’re here to help you avoid a meltdown. Let’s paint the big picture on the core mortgage qualification elements: Credit score, debt-to-income ratio, and down payment.