What credit score do I need to buy a house?

Conventional loans typically require a 620+ credit score, FHA loans require 580+ with 3.5% down (or 500+ with 10% down), and VA loans have no official minimum but lenders usually want 620+. Higher scores unlock better interest rates.

How much house can I afford?

A common guideline is to keep your total housing payment below 28% of gross monthly income. On a $100,000 salary, that means roughly $2,333/month, which could support a home price around $320,000–$350,000 at today's rates.

Should I get a 15-year or 30-year mortgage?

A 15-year mortgage has higher monthly payments but significantly lower total interest and a faster payoff. A 30-year mortgage offers lower payments and more cash-flow flexibility. Choose based on your budget and financial goals.

How much should I save for a down payment?

While 20% avoids private mortgage insurance (PMI), many buyers put down 3–5% with conventional loans or 3.5% with FHA. VA and USDA loans offer 0% down for eligible borrowers.

Mortgages & Home Buying – Calculators, Rates & Guides

By Wealthvieu · Updated January 15, 2025

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