Financial Readiness Calculator

Your credit score is one of the most important factors lenders use. A score of 620+ is typically the minimum for most loan programs.

Your DTI is your total monthly debt payments divided by your gross monthly income. Most lenders prefer 43% or below.

A 3% down payment is the minimum for most conventional loans. 20% avoids Private Mortgage Insurance (PMI).

What percentage of your target home price have you saved?

Lenders and financial advisors recommend at least 3 months of living expenses saved separately from your down payment.

How many months of living expenses do you have saved?

Lenders typically require 2+ years of steady employment in the same field. Self-employed borrowers generally need 2 years of tax returns.

How long have you been in your current field or employment?

Taking on new debt before closing — such as financing a car, furniture, or appliances — can disqualify or delay your loan approval.

Do you have any major credit purchases planned before buying?