To qualify for a mortgage loan, you generally need to have a good credit score, a stable income,and a down payment.
Lenders will also consider your debt-to-income ratio and your employment history.

The amount you need for a down payment can vary depending on the type of loan and the lender. For conventional loans, you may need as little as 3% of the purchase price, while for an FHA loan, you may need as much as 3.5%.

There are several types of mortgages, including fixed-rate mortgages, adjustable-rate mortgages,
FHA loans, VA loans, and USDA loans. Each type of loan has its own terms and qualifications.

The mortgage process can take several weeks to several months, depending on the lender and the type of loan.
It is important to have all necessary documentation and to be responsive to the lender’s requests.

A pre-approval is a letter from a lender indicating that you qualify for a mortgage loan based on your credit score, income,
and other financial information. It does not guarantee a loan will be issued, but it does show a real estate agent or seller that you are serious about buying a home.

It can be more difficult to get a mortgage with bad credit, but it is not impossible. You may have to pay a higher interest rate or
put more money down. It is best to speak with a mortgage broker or lender to determine your options.