The cash you pay upfront. While 20% is the traditional gold standard to avoid extra insurance costs, many programs allow as little as 0% to 3.5%. 🏠Common Types of Home Loans
To qualify, lenders look at your "financial health" through three main lenses:
The percentage of your monthly income that goes toward debt. Most lenders want this under 43–45%.
Choosing the right loan depends on your credit score and how much cash you have saved. Minimum Down Payment
Your track record with debt. Higher scores unlock lower interest rates.
Yes, you can absolutely get a loan to buy a house, and for most people, it is the primary way they enter the housing market. These loans, known as , are provided by banks, credit unions, and online lenders who essentially "bet" on your ability to pay them back over 15 to 30 years. The Essentials of Getting a Home Loan
