Credit scores, debt-to-income ratios, down payment requirements and the documents lenders ask for at application.
Last updated: October 2026 · Editorial standards Retirement changes your income profile — but it doesn’t prevent you from getting a mortgage. Lenders have specific guidelines for qualifying retirees, and there are several strategies to maximize your borrowing power on a fixed income. Can Retirees Get a Mortgage? Yes, and federal law prohibits age discrimination…
Last updated: October 2026 · Editorial standards Self-employed borrowers can absolutely get a mortgage — but the process is more documentation-heavy than for W-2 employees. Here’s what lenders look for and how to prepare. Why Self-Employment Makes Mortgages Harder Mortgage lenders need to verify that your income is stable, sufficient, and likely to continue. For…
Last updated: October 2026 · Editorial standards Having a low credit score doesn’t automatically disqualify you from buying a home — but it does limit your options and typically increases your costs. Here’s what you need to know. What Credit Score Do You Need to Buy a House? Different loan programs have different minimum credit…
Last updated: October 2026 · Editorial standards Buying a new home while still owning your current one puts you in a financial bind. You need the equity from your existing home to fund the down payment on the new one — but you haven’t sold it yet. A bridge loan solves that problem by giving…
Last updated: October 2026 · Editorial standards Bankruptcy and foreclosure feel like permanent financial records — and the stigma can make it seem like homeownership is over. It isn’t. Every major mortgage program has defined waiting periods after these events, and buyers are routinely approved for mortgages 2–4 years after a bankruptcy or 3–7 years…
Last updated: October 2026 · Editorial standards Self-employed borrowers are approved for mortgages every day. The process is more document-intensive than for W-2 employees, and the income calculation works differently — but it’s not harder to qualify. The main challenge is understanding how lenders analyze self-employment income and preparing accordingly. Who Counts as “Self-Employed” to…
Last updated: October 2026 · Editorial standards Down payment assistance (DPA) programs provide grants or low-cost second mortgages to help buyers cover their down payment and closing costs. These programs exist in every state, are legal, and are specifically designed to be used in conjunction with standard mortgage financing. Yet they’re dramatically underutilized — surveys…
Last updated: October 2026 · Editorial standards Down payment savings feel abstract until you give them a number and a timeline. Once you know exactly how much you need and by when, the problem becomes a math exercise: how do you accumulate X dollars in Y months? This article gives you the calculation, the account…
Buying a House With Low Income: Programs and Strategies That Work Last updated: October 2026 · Editorial standards Income alone doesn’t determine whether you qualify for a mortgage. What lenders actually care about is your debt-to-income ratio (DTI) — the relationship between your income and your monthly obligations. A lower income qualifies for a smaller…
Last updated: October 2026 · Editorial standards Most first-time buyers focus on the down payment — and then get surprised by how much more they need. The total cash required to close on a home typically runs 5–8% of the purchase price for a low-down-payment loan, and 22–27% for a conventional 20% down purchase. Here’s…